There seems to be a set distance at which the render quality will drastically go down and weird lines will start to appear. The ripples found on the wedges have always occurred, from what I can remember. However, the lines on the flat surface have only started occurring since the last update. In fact, there seems to have been a gigantic increase in graphical anomalies (moiré effect) since the last update (can confirm by looking at older pictures of the same ship). The effect also appears to happen in segments, as in if I move closer to it it'll disappear in chunks/segments, not block-by-block. The image below shows what I mean, it was zoomed in to make it easier to see.
{F3400}
In-game settings for that picture:
2560x1440 resolution
256p textures
8x Anti-aliasing (no difference no matter what I use)
No shadows
64 block light quality
Everything else is default, and the light source is located above the ship (it's in the lower half of the system, no sun).
I'd also like to add that the moiré paterns/ripples that appeared all over the place in addition to those lines makes everything look weird, so I hope that it'll get fixed. Can provide an example image with before/after comparison if needed. It happens on everything, not just that specific ship.