I've been having this problem for a while, when scrolling through some games like COD: Warzone, Fortnite or Walking Dead series, this kind of color flickering/ aberration happens. The game mode is on and set to 120hz.
The colors are mostly red, green, blue and yellow. At first, I thought it was Xbox hdmi cable or the console itself, but after trying with another TV the problem is gone, so it's the TV firmware or the TV itself. I believe it has something to do with the game mode setting.