Wow, I wasn't going insane afterall. Bumping this post to show my full support and to document what worked for me. I ended up having to massively adjust my graphical settings to reduce the eye strain although it still occurs to a lesser degree than before. I was getting severe migraines within 15 minutes of playing FFXIV, and only FFXIV. As soon as I cut the game off and played something else I could immediately feel the relief in my eyes, literally.
I got the idea to take screenshots of all of the graphical settings in the game and feed them into ChatGPT. I then gave it my GPU and monitor specs then prompted it to play the role of an opthalmologist with extensive knowledge in graphical/UI design for gaming. I told it that my screenshots are from XIV and explained that it was an MMO which requires me to track a lot of things at once visually, and asked it to change all of my settings to what would produce the least amount of eye strain.
Voila. Reduced eye strain but not completely gone. There is definitely something going on with XIV's graphics and to be quite frank, I've always had eye strain with XIV even before the graphical update. However, the graphical update certainly exacerbated the problem. Please look into this Yoshi P/SquareEnix!!!