First try a force restart before you do anything else - it surprisingly often helps with software issues like this. To do that, quickly press the volume up button and release it right away, then press volume down and release, then hold the side button until the power-off slider appears. Release it and wait until your phone reboots.
If that doesn't work, I'd check your Settings under Accessibility to see if anything with Motion or Animation is turned on that could be causing the flickering. Some apps also have their own refresh rate settings. Otherwise try your iPhone in safe mode (hold the side button longer while it's booting up), then open Instagram/TikTok - if it flickers there too, it's probably an iOS bug, if not, it's one of your apps causing it.
If nothing helps and it's really only 2 months old, I'd go to Apple Support. With such a new device there could also be a hardware defect, even though that rarely happens. A lot of people have reported iOS 18 issues after the update, so there's a good chance your device just needs a fresh installation or Apple's already pushed out a patch for it.