I noticed this bug first when a teammates shield was broken, as it happend their boots and helmet, both new one bugged visually.
So i played around, I can replicate the bug by changing weapon mode on a heavy bastard sword, had no cash to try any other swords or weapons/shields. If I press X once, this:
And the more I press X, the worse it gets:
This is visible by others also, I checked it, and ultimately I made it HUGE but died to enemies (somehow they found me in there XD).
Here is a last pic, dragon warrior:
Anyway, hope this can be fixed without removing nice new european armours and helmets, good luck devs