Jittery movement animation

Today, after playing for a set of hundreds of hours without issues, I suddenly began facing a problem I had years ago in DST. My character's movement animation becomes jittery. Almost like the character is struggling to follow the game's camera movement. This effect is stronger or at least, more easily observed, when navigating on a fast boat. This does not seem to affect mechanical aspects like hitboxes or cause any observable delays, however, it's uncomfortable and distracting to look at, especially since it happens all the time. The attached video shows an example I recorded on a dummy world with no client or server mods.

I play solo on a dedicated server, but it also happens if I use the in-game Hosting or join someone else's server. Changing the tick rate seems to make to issue much worse.

The only thing that seems to fix it is to disable caves, but that is not a viable option for me. I have a 500+ day world I was playing in up until today and this problem WAS NOT happening before. I did not change any settings or make any hardware changes today. 

I know about the delay/input lag that naturally occurs when caves are enabled. That is perfectly fine with me and I stop noticing it quickly. But this jittery movement is way more problematic.

As I said, I had this problem years ago with DST, but it seemed to have fixed itself. Now, all of a sudden, it started again. PC Specs and Network connection should not be the issue. 5800X3D CPU, 32GB of RAM and RTX 3080.