Player hand and item moves to it's default position when paused

When the player moving their camera around, then pause the game, the player hand and items will move to it's default position despite the game is paused.

Steps to reproduce:

1. Enable view bobbing: Settings > Video > View Bobbing 
2. Move your camera around, then pause the game
3. Observe

Expected results:
Player hand and items stays at the same place until the game is unpaused.

Observed results:
Player hand and items move to it's default position.