[TF2] [Intel Driver] Cosmetic stretch graphical glitch

[Yetoo1]

I recently played TF2 after the new update and I have been noticing graphical glitches where cosmetics (may only be some hat cosmetics) stretch across the map if I was too far away. If I got close enough the stretch glitch would disappear but would subsequently reappear if the other player or I got far enough apart. I haven't been able to retest as much as I would like to as it depends on if a player that joins the server has the affected items equipped. The graphics settings were all on low with models on high, shadows on medium, and color correction enabled. This stretching graphical glitch shouldn't occur. This first one appears to be occurring with the Bazaar Bauble (resolution 800x600):

(resolution 1024x768)

This next one may either be the Scotman's Stove Pipe (orange Unusual miami lights variant) or the License to Maim (resolution 800x600):

Video settings:

I'm posting as a single bug because I don't know if the issue is specific to the hats or something more global.

TF2 Version:
Build Label: 6054732 # Uniquely identifies each build
Network PatchVersion: 6054732 # Determines client and server compatibility
Protocol version: 24 # High level network protocol version
Server version: 6054732
Server AppID: 232250
Client version: 6054732
Client AppID: 440

System information:
https://web.archive.org/web/20200822172125/https://pastebin.com/0NCKBPwk

This occurs for me too (Intel HD Graphics 630) but I don't think it's actually video card related. This is most likely an issue with Jigglebones, which frequently glitch and warp as seen here.