Snowballs break before they even hit the ground

The bug

Thrown projectiles seem to lag behind in their rendering, resulting in them breaking nearly a full half-second before the visual entity appears to hit an obstacle.

Video
snowball bug.mp4

How to reproduce

1. Throw a snowball straight up
2. Watch it fall back down

Expected result
It hits the ground and breaks, turning to particles

Observed result
It disappears in midair, then particles appear on the ground