Finally found a working solution for me
So, until recently I have already gathered around 5 android smartphones in the hope to get rid of PWM sensitivity. Among them, the most comfortable option I was having was Redmi K50i with a custom TFT Display (which costed me 1100inr) and surprisingly even 120fps worked. I was using this combination but the major problem was the camera. For that I had to carry my OnePlus 12 as the primary device.
But I guess I have found the best possible combo now. I also have Pixel 8 Pro of which the display broke down recently. I looked for a TFT display for the same in local market and to my surprise, I found a working TFT display for my pixel 8 Pro and that too costed only 2k inr. For that budget I have already grabbed two of them, to cater for emergencies if one shatters.
The touch is smooth without any latency issues and yes no PWM flicker. People can give it a try!