So I've done some more testing based on information received. Here's what I found, whether it's any good I don't know.
This is the sound the marked component makes immediately maybe seconds after the power LED turns blue:
https://vocaroo.com/1lRGnczyvSMAHopefully the audio recording makes the sound I'm hearing clear.

If I remove the cable that's marked, the sound I hear stops completely. Power LED is still solid blue.
The marked cable goes here:
Multi-meter reads 12V on both pins. The BK/ON pin seems to be giving different readings every time I touch the red probe on it. Sometimes it'll show about 0.770V and other times it'll show 0.500V or something lower. At one point, it was even reading 299.1mV or so and dropping. Not sure if this means anything. The ADJ pin seems to consistently read around -004.5mV or so. Both of the SGND pins seem to give similar readings to the ADJ pins.

The marked cable goes to the above area on the main board (the red-coloured cable).
I tried shining a backlight at the screen as I've seen in some videos. Nothing could be seen.
I ran something with audio on my laptop and connected it via HDMI to the TV. The sound cuts on my laptop (as expected) and I assume is supposed to be going to the TV. However, the TV does not produce any audio whatsoever.
Connecting an external USB speaker does not produce sound either. The speaker reacts to me plugging in the cable, but is not producing the sound playing on my laptop. If I remove the HDMI cable from the TV, the sound plays on my laptop once more. The laptop seems to detect that I am connecting it to a TV, but the TV is just not doing anything of value.
The power LED stays solid blue the entire time. There's no flickering. If I leave it unattended for a while, it'll go on standby (Red LED).
Anything else to try? Does this information help narrow down a possible cause? If it was a backlight/LED issue, shouldn't there be sound playing still?