Occurs with Neoforge 47.1.78 & Forge 47.2.0
Occurs with Shaders: SEUS PTGI E12 & continuum-2.0.5
No other mods installed

Crash from game which appears to be related to rendering lava:

Description: Encountered exception while building chunk meshes

java.lang.NullPointerException: Cannot invoke "net.minecraft.client.renderer.texture.TextureAtlasSprite.m_118367_(double)" because "sprite" is null

Game plays with occasional lag spikes untill crash. Shaders are not applied to Lava blocks.

Crash Report:
https://gist.github.com/Firestarme/aba6230f56a31da1ff6ca065625d5138

I am also having this issue without oculus

Just discovered this is likley due to trying to use a non-.minecraft install directory.

Changed to .minecraft and it seems to be running without issue

Can confirm this issue on 1.20.1 forge-47.1.47
rubidium 0.7.1

lol, yea
Rubidium cannot to render block of lava. Playing with mods without any shaders. So, i guess, is this rubidium problem?

ed: and this bug happened without oculus

Had same issue - apparently the bug has been tracked down and squashed; wait for release or, as a workaround, roll back to 0.7.0a. Worked for me.