Materials Bug Out After Changing Scalability in 5.4

When I change the “Effects” setting from medium to high specifically, all the materials in my game start bugging out. Does anyone know what’s causing this?

Some additional information, this only happens while the game is playing and I cannot reproduce it on a blank unreal project. It was working fine in 5.2, and this bug started when I upgraded to 5.4.

It’s a pretty big issue for me because it happens when the player changes settings using the ingame option menu as well.

It looks like disabling Virtual Texture Streaming in project settings fixes the bug, but I need to use virtual textures unfortunately