This has happened to me twice in 2 days. Did some searching on the forums and reddit and couldn't see that anyone else had reported this bug.
Anyway, the first instance of this was at Sanctuary Outpost. I spawned into a fresh server, and noticed there was loot floating just off the dock. Dove in and tried to pick it up. The game allowed me to pick up some items, but other items were rendered and not able to be picked up. The items floated on the surface just as loot would regularly, but could not be interacted with in any way. The loot then just instantly vanished. I chalked it up as a weird happening and moved on.
Now, today I completed a Skeleton Fleet, and the same thing happened. Started harpooning the loot and could get about 1/4 of it. The rest was floating regularly but again, could not be interacted with. Decided to try dying and respawning to see if that would fix it. It didn't. I came back to the loot not being able to be picked up again and then seconds later, instantly vanish.
These were two completely different circumstances so not sure if it can be recreated.
