I do not currently have a screenshot, but this was an issue myself and 2 friends encountered.
- The host player, on her own ship, travels 6-7 thousand units away.
- The other player(s) remain on the tutorial island.
- Host player now appears as if in the sky above tutorial island, running on air despite being on an entirely different island on her end.
- Host player can be damaged by other players, showing the bug is not solely visual.
- When attempting to join host player on the other island, said island does not appear - instead, a large mass of fog is present, and only the host player can go onto the island, vanishing from view immediately upon touching the "phantom" terrain.
Not certain how reproducible this is, as we ended up abandoning the world after the two guest players' ships got wrecked, and the host's ship despawned, trapping her on the foggy island without sufficient resources to leave. Making the report nonetheless, in case we aren't the only ones.