Wow thanks. Can I ask you to try something. Do you know how to manually set the encode bitrate using the Oculus Debug tool? On standard set up its located here
C:\Program Files\Oculus\Support\oculus-diagnostics\OculusDebugTool.exe
Can you try setting encode bitrate to 200
My gut feel is the cards or the software are over driving the Oculus link. all thanks to @Player893572846 for the lead. I have had a few goes in Elite dangerous on this setting and not had the issue.
Do you get it across games or is it a particular one your seeing it on?