iOS - Graphical distortion when packaging with Metal Desktop Renderer v2.1 turned on

Marking as a regression as this issue does not occur in 4.25.4

Done on local windows machine:

1. Create and open a Third Person BP Project
2.  Navigate to Project Settings and turn on Metal Desktop renderer
3. Turn off Metal Mobile renderer
4. Set "Max. Metal Shader Standard to Target" to V2.1
5. Restart Editor
6. Package for iOS Development
7. Deploy .ipa and open on iOS device

Result: Game is distorted with Red, Green, Yellow, and sometimes Blue colors

Expected: Game looks normal as it did in the viewport