Another note is that the artifacts turn whiteish blue when you have night vision.
Yes it does occur on newest version of preview. I am using all normal graphics settings and I tried changing each one individually and nothing fixed it. I also tried changing graphics card settings using nvidia control panel and nothing fixed it. I am also using the newest drivers on a 5000 series card like the original poster. It occurs in all worlds and times, but it is less noticeable during night time because the black blends in with the sky-box. Something else worth noting is that the effect “smears” similarly to how water used to (and sometimes still does).
I am also having this issue and no I am not using any addons or resource packs. happens in all biomes it is the itself water that is buggy.
I am also having this issue!
I see what you mean it gets really… vibrant. lol. Hope they fix this I just built this pc and Im very annoyed.