Players become invisible to other players after traveling between Nether and Overworld

After moving through a nether portal in either direction (Nether->Overworld or Overworld->Nether) on a multiplayer server with 2 players, occasionally one or both of us will appear invisible to the other player. Reconnecting solves this issue.

 

I don't have any more detailed reproduction steps yet, but I will update the ticket if I discover specifics.