Weird artifacts/glitchy patterns on timeline preview

Hey there,

I've been editing some footage taken with iPhone 15 Pro and noticed some weird patterns with my footage recently. Sometime colorful dots, sometimes lots of tiny horizontal rectangles and flickering. They are not present in the source material or exported video. It just appears in timeline playback. And they are random. They sometimes go away when I minimize and maximize Premiere or scrub and play the clip again.

Here's a short clip that I recorded to send to my friend:  https://youtube.com/shorts/wDgZBtFSHbs 

Source material are HEVC files, 2160p and 59,94 FPS. But Premiere also says "Variable Frame Rate Detected" in the file properties window.

My system:

AMD Ryzen 9 5950x CPU
ASUS B550 motherboard (latest bios)
64gb ddr4 3600mhz ram
nvidia rtx 4080 super 16gb gpu
samsung 990 pro 2tb ssd

So far I tried:
-Uninstalling Nvidia Studio drivers with DDU app and then reinstalling.

-Uninstalling and reinstalling Premiere.

-Resetting to saved layout in Premiere.

-Deleting media cache in Premiere.

-Checking power connections of the GPU, reseating GPU.

None seems to solve the issue.

I'm not sure but I've also observed similar patterns on other types of footage (Sony XAVCS) especially when I add some other clips into the mix that I downloaded from YouTube or images from the internet.

The GPU never does that when I'm playing videos outside of Premiere. It also never does that in 2D/3D apps/games. This seems to be unique to Premiere.