I'm not sure where they "pulled" this logic board naming but as far as I know by that they are referring to mainboard/motherboard. So yeah, it is only semantics... Pretty much everything is on the mainboard these days and it at least contains sockets for CPU, memory, HDD and extension cards (like PCIe etc...), connectors for keyboard/mouse etc...
Also this GPU / graphic card is kind of a semantics when i5 cpu with integrated graphics is in question without actual additional GPU chip or card. So the GPU is inside the CPU in this model (entry MBP)... It always makes me smile when I see peoples referring these kind of flickering problems under broken GPU in cases where it is inside the Intel CPU. Those CPU's quite rarely fail in use and rarely are that out of the box either. Of course there are some chips and connectors involved in the mainboard, and the fact that this integrated GPU uses RAM as graphics memory, so it is sharing the memory chips located on the mainboard.
Back to your question, logic board in MBP contains all you listed as CPU, memory chips and SSD/NVMe is soldered directly to mainboard (=logic board), and the GPU is actually inside the CPU. Also this "magical" T2 chip is directly soldered on the mainboard as far as I know. So besides the logic board there is another board for fingerprint reader (I guess it comes with the Touch Bar in this model), then there are speakers, touchpad, keyboard and battery in the lower case, plus maybe some daughter card for the TB ports.
Take a look at iFixit teardown of this model, in the last picture you basically see how few parts there actually are in the lower case.
So basically if changing the mainboard, flex cable from mb to display panel and the display panel does not solve the flickering problem, your machine is probably just cursed...

Or it could be the software, driver, firmware bug, simply design flaw in the hardware part or bad / faulty batch of some of the parts.

My vote goes for sw, driver or firmware bug in this case.