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First thing I would try is changing the Display Cable. The ones that come with the monitor are trash in my experience. I have already replaced two of them. I would try that first and foremost.
If that doesn’t work, it could be the firmware didn’t install successfully. Even though it shows V033 as your firmware, bad installations can cause this issue in my experience. Look here for directions on how to install them correctly. https://wiredcolony.com/asus-pg42uq-oled-hdr-best-settings-guide/#how-to-update-pg-42-uq-firmware
What card are you using? Are you using Nvidia Surround or does ACC and DR2 allow you to calibrate monitors separately? iRacing allows multiple monitors setups. Are you using HDR?
Honestly, I would follow these instructions for PG42UQ setup and then see if that solves the problem ASUS PG42UQ OLED HDR Best Settings Guide – WiredColony.com. These settings include HDR calibration, NVCP setup, firmware installation and PG42UQ Windows driver installation.
Let me know how it goes. I will help you troubleshoot it if needed or, congratulate you…fingers crossed! 🤞🏽
