Morph Cut causing strange scale-up

Basic steps to reproduce the problem:

1. Apply Morph Cut effect between two clips

2. Select effect in timeline and render via Sequence -> Render Sequence -> Render Selection

3. Play timeline and view the bug in the Program window.

Expected Result:

Rendered effect plays back within Premiere with smoothness depending on complexity and movement within the shots being joined by the effect

Actual Result:

Stretched out frame like this when played back within Premiere (the screenshots below are one frame before the effect, and then the first frame of the effect):

Adobe Premiere Beta Version 26.0.0 Build 50

Windows 11

Intel i9-9900K

Quadro P4000 (driver: 581.42)