When browsing locations under the time trial menu, the location name/text to the right of the one you have highlighted, 'wiggles' left and right, it looks like a CRT monitor effect with a magnet.
For some reason it does not seem to do it until you've scrolled over a couple of locations, and it only shows when the location is in the position to the right of middle (screen)
https://youtu.be/h9tND1K1uzg?si=Ua9wk_43JMiEjBCA