In this answer of MO it is showed that $$\frac{a^m-1}{a-1}=2b^2$$ has no solution for $m>2$.
I would like to check if using the same argument, it can be stated that $$\frac{a^m-1}{a-1}=\frac{2b^2}{c}$$ where $c,b$ are odd, has no solution for $m>2$. And, if possible, digging a bit the original argument to have a better understanding of it, even if it is not valid for the new stated equation.
Thanks!