intel arc B580 artifacts during playback

Hello,

I just bought a second hand GPU intel arc B580 as an upgrade to my GTX 1060 card to help me with 4K video editing of 10 bit 422 h265 footage that my camera shoots.

The card passed all the standard stress tests in furmark and OCCT just fine.

But when I try to edit any 4K footage or project that I worked on in the past, there are artifacts throughout my playback window as seen on the video at 0:20 and further.

Any idea what might causing that?

The GPU is also very underwhelming in terms of performance, but I have no comparison since till now all the "heavy lifting" was done by my CPU, and it was handling the playback smoothly. Usually it gets to a point where in device manager it shows GPU stuck at "copy 100%" and premiere crashes after a while of this jittery artifacty playback.

My other components:

CPU: R9 5950x
RAM: 128 GB @ 3600 MHz
Asus ROG Strix B550 - A
PSU: Corsair RM1000x SHIFT

Video showing the artifacts - https://www.youtube.com/watch?v=cQqgQCZvluU

Any advice appreciated.