Another potentially related symptom of this issue is found when fishing. The bobber (float) does not remain on the surface, but immediately sinks to the floor of the body of water you are fishing in. The remaining fishing mechanics remain intact..i.e. the surface of the water still shows the approaching fish and you hear the subsequent 'strike' by the fish and right clicking to catch the target also still works.
Signal Five
Another potentially related symptom of this issue is found when fishing. The bobber (float) does not remain on the surface, but immediately sinks to the floor of the body of water you are fishing in. The remaining fishing mechanics remain intact..i.e. the surface of the water still shows the approaching fish and you hear the subsequent 'strike' by the fish and right clicking to catch the target also still works.