I did upgrade the gpu, and could not reproduce on nvidia, but it is a intel issue
Update: I have upgraded my hardware to a dedicated NVIDIA Quadro K620 GPU. I am completely unable to reproduce the water flickering on this new setup. The issue appears to be isolated specifically to the integrated Intel UHD 630 graphics pipeline or its drivers.
Drivers were updated, but this is still happening (31.0.101.2141)
This also applies to 26.3 Snapshot 8