From 13th January 2022 1.16.x versions will no longer be supported.
RenderDragon versions of the Minecraft client can have re-occurring bugs such as the "pink glitch", non-optimal performance or have high input delay. Some players have been using older versions that came out before RenderDragon was introduced to avoid this issue.

How to fix this issue

Players using Minecraft: Windows 10 Edition can fix this graphical bug by installing to the x86 version of Minecraft for Windows 10 Edition located here
Double click the downloaded .appx file, which should offer to either replace or install Minecraft. Press Install and wait for the installation to finish. Once this completes, Minecraft should open automatically.
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