What you seeing is the difference between stereo and mono view.
By default the app switches to mono view (the same image for each eye) when the OSD is up and then back to stereo (each eye gets its own image).
If you can not watch the stereo view most likely there is a serious mismatch between your physical IPD and the IPD of your headset.
If your headset allows to set the IPD correct it until you feel comfortable, if your headset does not well switch to a headset that either physically matches your ipd or allow for IPD correction.
You can also change the stereo-overlap in the player settings, you might wanna play around with the slider and look if you can get a setting that is more comfortable for you.
