Screen Flickering in Terraria with open inventory

[Bullet100]

Quick summary

You open the inventory and if that inventory, chest or the players, has a lot of items in it, after some time the game starts flickering with an extreme GPU usage (3D)

Details

If I open the inventory ,and that inventory has a lot of items in it, I can watch the GPU spike to near 99% usage, 3D to be exact. The fps becomes unstable, jumping between 40 and 50 while not even reaching the normal 60 that I set and usually reaches when the inventory is not open. Result is the game flickering and my GPU metaphorically melting. If I leave the inventory, it goes back down to ~30% GPU usage, fps stabilizing and the flickering stopping. I have tried a bunch of things but the only thing that works is locking it at 30fps. The GPU usage is still extremely high with ~60%, double the normal amount, but stable with no flickering. Such low fps though slows the game down and makes it painful to play.
This does not happen if there are only a few items in that inventory. After some testing it seems that each item increases the load on the GPU a bit. This was not very noticable in 1.0 Terraria as chests only have very little space in them, with the game updated though chests have double the space making this bug very noticable. Even a single item in the inventory affects performance.
Even slightly unstable fps, moving between 57 and 59, has the flickering happening.

Attach a log file

RPCS3.log

Attach capture files for visual issues

https://drive.google.com/file/d/1STrkn9Etgq2G-34LP1IwkAfXklrb6z9R/view?usp=sharing For a capture of it happening and the difference between a filled inventory and near empty inventory

System configuration

Ryzen 9 5950x
3090 Ti
32GB RAM
Windows 10

Other details

No response