That is GPU artifacting, but I highly doubt it's actually an issue with GPU failure unless you're getting this in other games.
I have no idea what would cause that here, and the only thing I could suggest is maybe trying the different compatibility modes in Windows. In the properties of the EXE. If that doesn't work, make sure you have your AMD GPU drivers updated. Your GPU is plenty good enough to run this game and Vulkan.
Try those, and let me know if it has any effect. If not, I'll see what else it could be.