Packet Loss while gaming

About a two ago I decided to overclock my monitors to get a better experience while gaming. About a week passed and noticed that every time I loaded into a game I start to get packet loss (whether it was because of this I am not sure, but I just wanted to provide context). It only happens when I am in a match and not waiting in the main menu screen. When I noticed this I decided to reset my monitors back to its default settings and now I have continued getting nonstop packet loss. I have a wired connection from the modem to my PC (ethernet cable) and I noticed that the light next to the cable plug is orange. I did a quick google search and I saw it meant a potential internet issue. I have restarted and reset the modem countless times now and it continuously shows up blinking orange. The ethernet cable is no more than 6 months old and I do not think it is that. I have also noticed slow internet speeds when using the Wi-Fi and just browsing the internet on my phone. Is there a way I can fix this? Should I replace the modem with a new one? For further context, this modem is the ARRIS TG1682G and was installed about 5-7 years ago. Can it start failing overtime?