Actually, I found the solution to the issue I was having. It turns out it was my touch screen that was bugging out. I think it kept thinking it was being pressed somehow. I ended up just disabling my touch screen and the icon stopped flashing.
I followed the following instructions from this link, which resolved the problem for me.
Right-click on the Start button to open the WinX Menu. From the WinX Menu, open Device Manager and search for Human Interface Devices. Expand it.
Then, right-click on HID-compliant touch screen and from the list of options displayed, select ‘Disable’.
Instantly, a confirmation pop-up will appear on your device screen, requesting you to confirm the decision. Disabling this device will cause it to stop functioning. Do you really want to disable it? Click ‘Yes.’
Your touch screen functionality will be disabled immediately.
At any point if you would like to enable touch screen functionality again, simply go back to the Device Manager, right-click HID compliant touch screen, and select Enable.
Remember, you will be required to restart your PC to enable the touch screen functionality again.