The PSU recommended is 500W and over...try a different driver just to see? Try a different HDMI cord if you have connected it that way? But never try to fix a video card if new. Send it back if its under the warranty. Big investment 1080 so let them send you another
Gigabyte Z590 UD AC Motherboard - Intel i5-11600k 3.90 GHZ - 32 GB DDR 4 Corsair Vengeance LPX 3600MHz- GIGABYTE RTX 4070 Windforce OC 12GB (Driver 566.03) Corsair GOLD 80 Plus RM750x PSU Gigabyte QS32Q 32" flat screen Gaming Monitor