Suddenly the other day while gaming on my HP Spectre x360 (Playing Jedi Fallen Order) I began to observe sudden, extreme and frequent FPS drops followed by flashing on my Xbox One controller which I have connected wireless via Bluetooth.

It turns out this is an actual issue and has already been addressed with the Xbox One controller firmware!

So you have two options:

1.) Update the firmware on the controller, which you can do on Windows 10 through the Xbox Accessories app which is available via the Windows Store

2.) Plug the controller in via usb cable and verify the problem goes away

I hope this helps someone else because it was driving me nuts!