So I just tried something else I just read. I went into the settings and turned the backlight down to below 5 and the TV stopped flashing. However, this doesn't seem like a satisfactory answer and I would rather try to repair this…as this may just be buying me time.

I left the back cover off and with the TV on, board on the right (the one with all the caps and the damaged area) makes a decently loud buzzing sound.

Again, TIA for any help someone has in troubleshooting this TV and repairing it at the component level.