Glitchy item icons and inventory visuals

Several visual glitches occur when interacting with inventory items, see attached gifs for examples.

The glitch manifests as flashes of colors and shapes in the hotbar and inventory screens, though sometimes it looks like random strings of text. Occasionally the glitch will follow an item the cursor is holding. Item icons may get scrambled, temporarily disappear, or their quantity will temporarily change. This glitch doesn't appear to affect gameplay, but it's very distracting.

This happens in both saved worlds and in new worlds. I'm not using any mods (including Optifine) or resource packs, and third-party game overlays (Steam, Discord, etc) are disabled. Re-installing the game did not fix the problem.

This doesn't happen when older versions (such as 1.16) are loaded, so it's strictly a 1.17 issue.