I've had this problem for a while now, and it's been incredibly hard to pinpoint the cause of it. This shuddering warbling (and at its worst, tearing) effect is a visual artefact exclusive to Oculus Link. When I play PCVR via Virtual Desktop or just play the Quest 2 standalone, no such thing happens. So this affects the only two games that Virtual Desktop has proven unsuitable for so far: Star Wars Squadrons and Flight Simulator.
In Squadrons, this is not the norm, but can just randomly start happening after a short time of play, while in Flight Simulator... It's been most of the time, I'd say.
I've tried altering the Quest 2's render resolution up and down in the Oculus app, that does seem to help but doesn't eliminate it entirely, and at 1x or lower it just looks bad in other ways. I tend to settle at 1.4x. I've also optimised various performance settings in-game and in Nvidia control panel. These did improve the games but this effect still creeps in from time to time. A reset of the Oculus Software and headset can help but not always.
My computer is: RTX 3070, AMD Ryzen 3700x, 16GB DDR4 RAM. My drivers are up to date. I'm also fairly certain this problem pre-dates my GPU upgrade late last year.
I've also been using the recommended Anker cable, and eliminated the possibility that the extension cable I was using is the cause, the above was filmed with only the anker cable plugged into USB 3.0 on the motherboard, and this setup cleanly passes the setup test.
So, if you've encountered any such thing, I'd like to hear it. If you've fixed any such thing, you might be my hero.