Thank you both for the suggestions. Sorry for getting back to you so late but I wanted to test these thoroughly.
After installing kernel-latest in dom0 and enabling the suggested parameter, I did still experience random heavy flickering, but the screen didn’t blank permanently, so I managed to get back to what I was doing within ~10 seconds or so. This doesn’t necessarily mean the problem is solved unfortunately.
I did that
I edited the value of GRUB_CMDLINE_LINUX_DEFAULT to splash nouveau.modeset=0 then created /etc/modprobe.d/blacklist-nvidia-nouveau.conf with the following content:
blacklist nouveau
options nouveau nomodeset=0
and finally ran mkinitrd.
Also just found this thread that may be related: