To reproduce the issue, at least on my galaxy 15 (unsupported but works fine apart from this issue), simply enable vibrant visuals, any settings, in first person with hand and item models on, no matter what item the result is the same
Normally, the game would just render the viewmodels and the game view just fine
Instead, the view model renders over itself (without change of colors), but the game view freezes and becomes brighter overtime, it is instantly noticeable but slowly drives into pure white, no amount of scenery change affects it
However, to fix this issue, I either enable third person or disable hand viewmodel, then reset the world, it works fine and at an incredible performance
This issue is being tracked at MCPE-217108.