Launch attached repro project and Play in VR
OR
Expected: The static mesh follows the movement of the camera component 1:1
Results: The static mesh moves with the camera component but it's delayed and seems to "wobble"
If the VR template is used instead of a Blank project - the issue isn't present. However, if the VR Spectator Camera Blueprint that's in the VR Template Scene is removed, the issue becomes immediately apparent.
Note: Make sure that the project is running at the max framerate of the device that's being used to test.
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There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-135044 in the post.