AppleTV won’t work but it’s flashing faster than usual

If the status light is continuously flashing, without video output, then you may need to restore the system software on the Apple TV box. For other models than the 4K model, users can do the restoring themselves. Unfortunately, for the 4K model, you will need assistance from an Apple technician, so contact Apple Support, or make a reservation at an Apple Retail Store Genius Bar, or contact an Apple Authorized Service Provider. If a restore is the fix, then that should be included service for this product.

I think the information in this link should help answer your question. https://discussions.apple.com/thread/5120791