Two of us, playing local co-op, were out on boats. We hopped out to explore for a minute, and then he couldn’t see one of the boats, but I still could. Once the boat was dropped as an item and I replaced it, he could see it again. The same thing happened to me shortly after that. Then, in a village later on, I could see a villager sleeping halfway through a door that wasn’t there for him. And then, when we returned home, one of his cats was invisible to me but all of them were visible for him. 
since this happens when we play local co-op, I’ll have to get a screenshot next time and try to figure out how to get from Xbox to here.