Driving a vehicle in third person view makes the camera move wrong

When I drive a ground vehicle in third person view, the camera starts properly behind and a bit above the vehicle. Where I would expect it to be. But as I continue driving, the camera starts to veer pointing to the top of the vehicle. If I don't counter this movement the end result is that the camera is 90 degrees above the vehicle.

This is of course suboptimal as it makes driving the vehicles very difficult as you have to counter the camera movement all the time. 

Issue started to happen in update 4.0. Issue is still present in 4.1. Playing on PS5.