Bow, Crossbow, Trident, Shield, and Spyglass are not displayed properly when held in first person view when using a classic skin with a cape equipped

While using an imported custom skin or a skin from a skin pack with a cape equipped, the bow, crossbow, trident, shield, and spyglass do not appear correctly in first person view when being held.

What I expected to happen is that the 5 items would be positioned correctly in first person view when held.

Steps to recreate:

1. Pick a skin from a skin pack or a custom skin (imported from device, not from the Character Creator).
2. Equip a cape (any cape).
3. Get a bow, crossbow, trident, shield or spyglass.
4. Hold it while in first person view.
5. Observe the held item.