Unplayable artifacts/etc with Oculus Rift DK2, UE4.9

I just got my DK2 and decided to fire. I expected the controls and other such to be off, but the rendering is just unplayable. I have not really done outside of the default settings. The game is built on the 3rd person mobile template. Any ideas on what can be causing this?

Here is an image I got with Windows snipping tool. The level is just a wood textured floor, however there is all kinds of lighting bugs and extra things being rendered.