Studio Display - Screen Intermittently Flashing an Area of Static

I recently started using my Studio Display with a new Mac Studio M2 Max. The display flashes a rectangular are of static, resembling television snow, on the screen in same location on the panel. Sometimes it resolves and stops appearing after I have used it for a while. Nothing I have tried seems to fix the issue.

I originally noticed this when I first purchased the studio display a year ago when I used it with an M1 Mac mini. However it never displayed the static when connected to my older 2019 MacBook Pro running Monterey. So I didn't address it at the time.

Things I have tried so far:

• Replacing stock thunderbolt cable with a new Apple Thunderbolt 4 Pro cable.
• power cycling
• Plugging the display and Mac Studio into a power conditioner
• Updating all firmware and Mac OS

Has anyone else encountered this and found a solution that isn't display replacement or a trip to the Genius Bar?

Display Firmware Version: Version 17.0 (Build 21A329)

Mac OS: 14.1.1 (23B81)

Mac Studio M2 Max | 96GB RAM