I have this strange new texture glitch occuring

Reimporting the texture will make it go away, this might be related to the error which says video memory has been exhausted. The only fix I see is either you upgrade your gpu with higher vram, or use low res textures, or not many 4k textures, only albedo 4k and rest(i.e. normal, specular and roughness etc.) at may be 1024 or even 512

Another way could be lowering down your screen percentage and engine scalability

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