Drops are jittery in midair

After breaking or dropping a block, it has jitter up and down in midair until it's resting on the ground. It affects all blocks and items, and it's also apparent on the fish hook when fishing. This issue is happening on both multiplayer and single player.

 

Example of the issue: https://imgur.com/a/4q8WquC

It's hard to tell for some of them in this video (because of the compression necessary from Imgur), but for others it's very obvious.