Without knowing much about your system or version, disabling shadows are known to reduce or eliminate the flickering, although it's not an ideal solution.

This is an old issue from over a year ago, there has been no legitimate fix/update from Stardock.

Disabling shadows does kind of help.

You can stop the flickering completely by disabling scaling on your monitor.

If you have a 4k monitor this is not a practical solution, but it is the only one.

I gave up on CursorFX and stopped using it and chalked it up as a waste of money.