Whenever a waypoint is available/created and I die, I get this visual glitch. Its even the color of the waypoint. It happens in both survival and creative. Removing the waypoint seems to fix the visual glitch.

So basically, the beacon effect is not rendered correctly, right ?

It looks like I walked through it but I did not. I merely turned around in circles. It renders correctly at certain angle, but turning to a different angle does the glitch in the pictures, as if I walked through it. The worst part is this glitch follow you around blocking your view.

Does this only happen in soul mode ? (does it stop when you are possessing something ?)

It happens after I die and become soul. Let me see what happens when I possess someone.

No need, I have uploaded a fix.

Yep confirmed. That was fast thank you.