There is a workaround to set r.VolumetricRenderTarget.Mode=1.
The lines appear to be coming from the temporal component of the Volumetric Clouds. Each
frame, the lines are merged in from the previous one.

Steps to Reproduce

1. Create a new empty project using Unreal Engine version 5.3.1.
2. On the default map, add a flat plane (or any mesh of your choice) and scale it up
significantly to resemble a massive object, like a planet.
3. Position your viewpoint so that the Volumetric Clouds are below you, and you can see
clouds that are in front of the scaled-up mesh.
4. Enable the setting: r.VolumetricCloud.HighQualityAerialPerspective = 1.
5. Observe the flickering horizontal lines

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ComponentUE - Rendering Architecture
Affects Versions5.3
Target Fix5.4
Fix Commit28963854
Main Commit28995850
CreatedOct 19, 2023
ResolvedOct 20, 2023
UpdatedNov 30, 2023
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