macOS 12.3 resolves flickering pixels for M1 MacBooks connected to Thunderbolt Display
The original report I found (to which I am unable to reply) has the title Flickering pixels on Thunderbolt Display.
macOS 12.3 resolves the issue for me (MacBook Pro [14-inch, 2021] and Apple Thunderbolt Display 27-ing).
Hopefully macOS 12.3 will help others resolve any flickering pixels they might be experiencing!
MacBook Pro (2020 and later)