PS4 Pro - Blue Light of Death troubleshooting?

Hello everyone, hope you're all having a great day!

Recently I bought a Playstation 4 Pro from a car boot sale and low and behold when I got home it has the infamous blue light of death. :(

When the system is powered on the blue light will continuously flash non stop until I physically turn off the console - it does not auto shut off. I've tried the generic troubleshooting steps like booting into safe mode, it doesn't go into it, using different hdmi cables/tvs and removing the hard drive but nothing seems to work.

Upon further inspection of the motherboard, I noticed a few things.  

- Missing thermal pad on one of the RAM chips (I've replaced this)

- Corrosion on some of the SMD legs - see images

- Some grey substance is all over the motherboard over the traces, looks like thermal paste?

Close up pictures of the board -  

If anyone could take a look at the pictures and possibly figure out what could be the cause of this problem. I have a feeling it could be something to do with the thermal paste-like substance on the board and the corrosion, I'm hoping it's not to do with the APU...

Any help will be greatly appreciated! If any more information is needed do let me know and I'll try to source it. Hopefully, we can restore this PS4 Pro to its former glory!!

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