Ctrl + alt + backspace is the shortcut for killing X (which manages the desktop display) which will then restart.
This is the closest equivalent to the windows shortcut which restarts the graphics subsystem. It does not restart the drivers on windows, instead it reinitialises the display after flushing things.
However note that In linux, killing X will also kill all the programs running which depend on it. You will essentially restart your entire session. This is due to how X works and there isn't an alternative.
Note some distros disable the shortcut be default now and you have enable it first. You will need to google your distro. I believe Ubuntu disables it, and possibly Gnome on all systems? I use neither, that is just from googling so may be wrong.
I am not aware of a Wayland equivalent.
You can also switch TTY using (Ctrl + alt + F1 to F8) to switch to a different "teletypewriter" - basically a full screen terminal display. You can login and then run commands including killing X and even restart the graphics drivers here. You could make a script that does this which you can run in a TTY if needed. You can't restart graphics drivers while X is running on the GPU; X has to be killed first.