it's either a busted GPU or a busted ANA scaler chip
if it's the GPU you're SOL
if it's the ANA then you'll have to track down a working donor chip and find someone with a hot air rework station.
Some of the more professionals with the right equipment could probably do the chip swap for about $40 after shipping and if you provide the chip. This is based on how much they used to charge for ram upgrades on the Xbox 1 which is about the same amount of work (and the same necessary equipment)
you could do it yourself with some SMD chip removal chemicals and an amazingly steady soldering hand but I wouldn't recommend it.
This is also assuming that the ANA isn't locked to the mobo, there is a distinct possibility that it is but I'm sure if you searched around you could find out if anyone has been successful at swapping it out before, I'm sure someone's tried it.