Seems they changed the default setting for the half pixel offset, even using an updated version this should work by right clicking on the game and create custom config, and then change the half pixel to the option No.2
In any case, did you...
Confirmed here, I'm also testing this great 50fps patch and the game looks incredible. In my case I can see the issue you're talking about, is like the water waves are blinking, but in my case the issue is a bit lower, I can see the waves...