Yes, the flag is present in the version that I use, v122 :
WebAssembly Garbage Collection
Enables the experimental Garbage Collection (GC) extensions to WebAssembly. – Mac, Windows, Linux, ChromeOS, Android, Fuchsia, Lacros
#enable-webassembly-garbage-collection
But it is NOT present in v144 .
Since the flag is not present in v144, this probably won't work, but it's worth a try maybe:
add switch --disable-webassembly-garbage-collection or something similar.