There's no real evidence that reflective surfaces or a particular color repel birds. Yes, there are lots of social media testimonials and claims, but then there are social media claims that a glass jar full of water will keep a dog from entering your yard and that the Earth is as flat as Kansas.
I haven't looked specifically for strobe lights as bird deterrents. There are good options for far less than $60, Vifly and Firehouse are two good brands. The danger of bird attacks on drones is frequently exaggerated. There have certainly been cases of physical attacks of drones by falcons, hawks, and other aerial predators, but they are very rare.