Visual flicker occurs with object during play

There is an issue occurring where objects are flickering, and what appears to be jittering at set distances when rendering, increasing the bounds of the mesh pushes the distance for the issue out. This issue occurs in the mesh viewport, Physicics asset viewport and during play. The flicker also persists in the editor if the camera is looking at the flicker and then play session is ended. This issue is not labeled a regression

Versions Tested: Issue occurs in all tested versions
4.15.3 - CL: 3450819
4.16.3 - CL: 3561208
4.17.1 - CL: 3586342

1. Open project provided
2. PIE (flicker occurs)
3. Exit PIE (Flicker still occurs)
4. Click on the object in the editor (Flicker stops)
   Result: Object flickers in and out
   Expected result: Object does not flicker