TLDR: Under your display configuration in System Settings, Make sure colour accuracy is set to “Prefer efficiency” instead of “Prefer color accuracy”
Wanted to share my solution I found for my displays distorting and flickering when I tried to use the Plasma on Wayland session with my RX 9070 xt. My colour accuracy setting of my displays was set to “Prefer color accuracy” on my old GPU (Nvidia GTX 1070ti) then when I upgraded to the 9070 xt everything was a distorted flickering mess and I had no idea why. Eventually after some troubleshooting I found it to be this setting that has to be changed back to “Prefer efficiency”.
Not sure what caused this in the first place and why it behaved like this on AMD or if it’s just a problem with the 9070 specifically. I made sure that I have all the proper drivers installed and removed all the previous Nvidia drivers and settings.
I couldn’t find anyone else having this issue on various forums so I just wanted to put the word out there for anyone who may be facing the same problem to hopefully save them hours of troubleshooting.