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This problem appeared earlier this week on an older version of macOS (v10.15.4, I think). Upgrading to 10.15.5 and rebooting seemed to have helped at the time, but it returned today.
As others have pointed out, disabling hardware acceleration does work as a workaround, but also not a long-term solution.
Testing
I was able to reliably trigger the glitch on multiple browsers by viewing search results at DuckDuckGo. I checked multiple browsers for the glitch.
Here are my results.
Microsoft Edge (chromium based; v83.0.478.54)

Opera (chromium based; v69.0.3686.36)

Firefox (v77.0.1)
Safari (v13.1.1)
Conclusions
Hopefully this information can help others troubleshoot the issue.
	
		
			
		
		
	
				
			
This problem appeared earlier this week on an older version of macOS (v10.15.4, I think). Upgrading to 10.15.5 and rebooting seemed to have helped at the time, but it returned today.
As others have pointed out, disabling hardware acceleration does work as a workaround, but also not a long-term solution.
Testing
I was able to reliably trigger the glitch on multiple browsers by viewing search results at DuckDuckGo. I checked multiple browsers for the glitch.
Here are my results.
Microsoft Edge (chromium based; v83.0.478.54)
- immediately glitches upon opening the settings
 - disabling hardware acceleration prevents the glitch
 

Opera (chromium based; v69.0.3686.36)
- glitches on the DuckDuckGo search results (same as Chrome)
 - disabling hardware acceleration prevents the glitch
 - toggling "Allow use of computer's dedicated GPU" has no effect, when hardware acceleration is enabled
 

Firefox (v77.0.1)
- I'm unable to trigger the glitch.
 - Hardware acceleration is enabled via the "Use recommended performance settings".

 
Safari (v13.1.1)
- I'm unable to trigger the glitch.
 - I'm unable to find any setting to control hardware acceleration.
 
Conclusions
- macOS version is irrelevant
- I've observed the glitch on both 10.15.5 (latest) and on a previous version of macOS.
 
 - it is related to hardware acceleration on Chromium
- non-Chromium browsers do not seem to exhibit the glitch
 - Electron apps cannot be ruled out as exempt from the glitch as I've not observed the glitch outside of a browser.
 
 - disabling hardware acceleration prevents the glitch, but is not a long-term solution
 
Hopefully this information can help others troubleshoot the issue.
