Dell S2418H/S2418HX keeps turning off and on repeatedly with my 2021 MacBook Pro (M1)

This problem has seems to have started in the last couple of days (April 2023). I have updated my OS to MacOS 13.3.1 (Ventura) so I am on the latest OS update.

I checked refresh rates. My monitor supports upto 60hz but somehow the default setting on the laptop shows 75hz monitor is connected. I changed it back to 60 but did not solve the problem

There are some addition menu options that I found on the internet but they don't show up on my laptop's System Settings > Displays.

Is it because the monitor is suddenly incompatible because it is old? This monitor was bought in 2018 and works fine with Ubuntu.

Anyone has any pointers, please help. I am putting a screenshot of my current system settings.