If you've already ruled out cables and tested it on another computer, it's most likely an internal monitor failure, but before you write it off try this: unplug the monitor from the outlet, wait a couple of minutes full stop (not just 30 seconds like some people suggest), and then plug it back in. It sounds silly but sometimes the power circuit gets stuck in a weird state and this resets it. While it's unplugged, also check if there's dust inside the monitor's ventilation grilles, sometimes buildup causes thermal issues that create these flickering problems.
If that doesn't work, the next step would be to check if your monitor has an OSD menu button on the front and access the brightness and contrast settings, because sometimes something gets configured weirdly in the internal electronics. I had a friend years ago with a Dell that did exactly what you're describing, flickering every two seconds like it had a nervous tic, and it turned out there was a capacitor about to blow on the monitor's circuit board. He ended up taking it in for repair and it was pretty cheap, I think it was around 40 euros for labor.
What I will say is that at three years old it's not unreasonable to get it checked out before you toss it. Dells aren't the most reliable over time, but they don't wear out that fast either. If you find a decent technician, they'll give you a diagnosis for free or next to nothing.