Water Elemental character effect causes weird rays of light

This wasn't a problem when I bought the water elemental character effect several years ago, but when I tried putting it on a character this league, there are very noticeable rays of light tearing across the screen every couple seconds.

I've tried all graphic setting toggles and all three renderers, nothing removes the rays. Makes the MTX unusable.






And here is a video of what I'm describing: https://youtu.be/MhRavV81rbw

11th Gen Intel(R) Core(TM) i9-11900K @ 3.50GHz
NVIDIA GeForce RTX 3080
32.0 GB (31.8 GB usable)