What GPUs are you using? I know this happens with RDNA1 cards when using Nanite tesselation on 5.3, but supposedly RDNA2 and above work for AMD cards. I have no idea about where/if there’s a cutoff for it working properly on nVidia.
It’s fixed in 5.4 on RDNA1.
(there’s a reason it’s an experimental feature that you have to jump through a couple hoops to enable)