mesa 21.0.3-1 breaks amdgpu graphics

Yesterday on Arch I received the new mesa 21.0.3-1. It creates lots of graphical artifacts with my amdgpu. I see these artefacts in gdm, lightdm, gnome and xfce. See the attached screenshot as an example.

The issue happens with 5.11 kernel as well as with 5.10 lts kernel.

Downgrading to previous mesa version 21.0.2-1 fixes the issue.

I have also filed a bug report with Arch but the recommendation was to report it upstream here. https://bugs.archlinux.org/task/70554#comment199086

7# inxi -G
Graphics: Device-1: Advanced Micro Devices [AMD/ATI] Navi 10 [Radeon RX 5600 OEM/5600 XT / 5700/5700 XT] driver: amdgpu
v: kernel
Display: x11 server: X.Org 1.20.11 driver: loaded: amdgpu unloaded: fbdev,modesetting,vesa
resolution: 2560x1440~60Hz
OpenGL: renderer: AMD Radeon RX 5600 XT (NAVI10 DRM 3.40.0 5.11.16-zen1-1-zen LLVM 11.1.0) v: 4.6 Mesa 21.0.2