In addition to my original post, I would like to highlight that the Reddit Discussion linked above contains a short video that visually demonstrates the rendering issue with PencilKit. The video clearly shows the flickering and display problems when interacting with the Apple Pencil in "More Space" mode. This should help illustrate the issue for anyone experiencing it, as well as for the development team investigating the bug.
Here’s the link again for reference:
https://www.reddit.com/r/ipad/comments/1f042ol/comment/ljvilv6/
Paxxs
Users receive reputation points by contributing quality content to the forums.
Posts include post and replies published on the forums.
Post authors can mark replies as Accepted to indicate successful solutions.
Apple Developer Forums admins can mark replies as Apple Recommended to indicate an approved solution