Whenever you turn on vibrant visuals in the new preview your game will run smoothly until you get a notification on your Xbox or anything that isn't part of the game like party overlay or opening up the Xbox menu. Even if you take all precautions once you open a menu in the game like the creative inventory or anything that involves opening a menu will lower your FPS drastically all the way from 60 to 10.
"When enabling Vibrant Visuals in Minecraft Beta, the player's hands disappear while in first-person view.”