When viewed in 3rd person mode, the cape renders incorrectly when sneaking while wearing a chest plate

Steps to Reproduce:

1. Wear a chest plate
2. Switch to the third person point of view
3. Sneak and move around

Observed Results:
The cape renders in and out as you move around. Affects leather, iron, gold, diamond, and netherite chest plates

https://youtu.be/yKfrGPfGfGU
https://youtu.be/eiWkewgI_F4