Excessive/jittery viewmodel sway

The bug:

The first person viewmodel sways too much in relation to camera movement, resulting in jittery, unsmooth movement.

How to reproduce:

1. Move the camera from left to right, focusing on your held item or hand.
2. Notice how, if using a mouse, the viewmodel jitters as the camera moves.
3. If using a controller, viewmodel movement is smooth, but the sway is a bit excessive.

This is how viewmodel sway currently looks: Minecraft 2021.03.06 - 14.09.02.08_Trim.mp4
This is how it should look (smoothed out and less distracting): Base Profile 2021.03.06 - 14.10.20.09_Trim.mp4