I've had this same problem as well. I used to use the compatibility fix, setting it to Windows XP SP3 which allowed me to run at pretty much ultra graphics no problem. Since the update I have to keep most things to low except character level of detail. Changing the texture setting to low helps to reduce the flickering while running around but doesn't completely stop it and it will still be present during every conversation and cutscene. I've tried changing the compatibility to match for both those file locations using all of the older Windows versions and that does help to avoid the empty server list issue but did not change the graphics flickering. Unfortunately, the swtor.exe one doesn't have Windows XP SP3 as an option anymore.
I don't have the most ideal setup as I am using a 2023 M2Pro Macbook Pro - 10 core CPU - 16 core GPU - 16 Core neural engine - Running Windows 11 on Parallels. I've optimized parallels for gaming as well. While it isn't an ideal setup, like I said, I had been playing on nearly Ultra settings no problem just a week ago.