I also had that confusing problem and tried enabling all the unnecessary graphics stuff one by one.
I had the setting set “g_bUseShaders 0” and after removing it the problem was solved.
So if anyone is having serious texture flickering then that’s the first thing they should consider.
Texel Bias Fix, Object Density 6 and Textured TV/IR are the only things above bare minimum you need.
Before you update...
As an obvious reminder, Please never install a BMS update on a modded install (e.g. Janhas models, custom changes, ...)
Before you post a Bug Report!
We remind People that in order to help troubleshooting issues, they need to follow the steps described in THIS POST