Make sure RGX is off at the URL opera://settings/lucidMode.
If you have and shaders enabled at the URL opera://settings/shaders, disable them. Same for web modding at the URL opera://settings/web_modding. Also, make sure you're not using any limiters in the GX Control sidebar panel and make sure the battery saver is disabled at the URL opera://settings/batterySaver.
Make sure "graphics acceleration" is on at the URL opera://settings/system.
You can try messing with the Angle flag to see if you can avoid black while keeping VSR.
However, VSR could just be broken in Opera at the moment.
You can also try disabling Early Bird at the URL opera://settings/early_bird if you have it on.