Hello, I have an update. I mailed in my 8950 to the depot and it came back in 4 business days which is very impressive. The service summary states that the processor, main logic board, mechanical part, and video card was replaced. I don't know what "mechanical part" stands for but I think it is the PSU since that was the component which was making the loud noise. I realized that the computer was not making the loud noise anymore so the main issue has been resolved. The only thing that I can hear now is the liquid cooling system which does not worry me too much since it sounds way better than the PSU coil whine and I can just replace it with a Noctua.  Thank you to Dell Tech Support and the people who responded to this thread. 
Can the people who purchased the XPS 8950 share the noise levels of their computers? In January, I purchased the 8950 to replace my 10+ years old HP desktop which was whisper quiet. I chose the low tier components such as the i5-12600K and 1650 Super but still added the liquid cooling option and the 750W PSU which many people might consider as overkill. But since day one, I could hear the PSU fan even when I am outside the room. On the third week after purchase, the PSU started to make this unbearable rattling noise which led to me calling Tech Support for a replacement. After the replacement, the new (probably refurbished) PSU wasn't making those loud rattling noises but it was still making those initial humming sounds. It gets loud the second I turn on the PC and it never stops. Also, I do nothing advanced on the PC which will lead it to getting this loud. Maybe modern systems are built this way to make sure components don't get overheated and I just got lucky with that HP computer.
XPS 8950, PSU hum noise