Upvoted. Tried playing the public EA release with my cousin co-op on PS5. 50% of the time when we teleport to one another or after a random event, one of either of us is invisible to the other one. You can only see a flying nametag. When you try to spectate the invisible player, the camera flies to a location where the player originally was on the moment of joining his party/game session. That could be from hours ago too. When you tap left on Dpad, the game even renders his character next to you for a brief moment (less than a second) and then he vanishes again. Tried all sorts of creative fixes, remaking the party, seeing if the was visible on the replay from a moment ago where we completed a mission together (he was not!!), etc.
It happens very frequently and the only fix is for the affected player (he who can't see the other) to force close the game and reboot. It is very bothersome as half the fun of playing cooperative is seeing what the other person is up to.