If the lights are flashing (blinking), it could mean a few things.
That the printer is actually in the process of printing a page but it’s a bit slow. Leave it like 2-3 minutes and see what happens.
Also if the printer has a specific issue like the cartridge is broken.
If a cartridge is not broken and it’s empty, the printer should not blink. It should just print a blank page.
Another reason for the printer to have flashing lights is if there is a mechanical issue, a paper jam happens etc. You can remove the back panel and check if there is any paper stuck there. You can also clean the wheels that are grabbing and moving the papers (the plastic ones).
Regarding the cartridges, leave just the black one and do a test. If the lights are still blinking, remove it and insert the color cartridge. If the lights are still blinking, restart the printer. If that won’t do anything, just try with a new black cartridge.
You might also want to update the drivers and the utility software. They have some windows that are displaying the issues and details about them.