This is a bit more extreme than what I'm describing and does just look like bad performance.
Try walking really slowly, in a straight line, and watch the animation (and the edges of your screen, which emphasises it) closely.
These are the things that are driving me nuts. For whatever reason, the drops in fps during heavy load situations haven't really bothered me too much.
It's the frame stuttering while panning the camera and weird animation hitches that are grinding my gears. Because there's no good reason for it! It's all the time. At best it's an oversight, but at worst (and most probable, because who the fuck wouldn't notice this) they just said, eh... too much time to fix, ship it anyway. Maybe we get to it later, if ever.
I honestly love this game, even though it has issues, but there is some stuff here just leaves me scratching my head. It's not like some glitch that happens rarely, and really hard to replicate, and thus hard to fix. This is core stuff. Stuff you see over and over and over.
And I cannot make a Witcher 3 post without include how much I fuckin hate the auto camera. The only time that thing should kick in is during a sprint or fast gallop. I'm starting to wonder if some of the stuttering is actually linked to auto-center camera. Need to explore that more before I post about it though, and someone makes me look dumb. lol