Apple has released tvOS 16.4 for the Apple TV, featuring the ability to dim flashing lights.
This update adds Dim Flashing Lights, an accessibility option to automatically dim the display of video when flashes of light or strobe effects are detected, and includes performance and stability improvements.
You can update to tvOS 16.4 by visiting Settings > System > Software Updates on your Apple TV, or you can download tvOS 16.4 from here: ● tvOS Download Links