Massive input lag in 5.1.1p3 builds

I’m getting horrendous input lag, seemingly half a second or so, in builds created with 5.1.1p3 in the mouse, joystick, etc… In the preview player everything is good, nice and responsive.

Is there anything I can do to fix this or do I need to upgrade to a later patch or start running the beta version? My game is completely unplayable like this.

If anyone is aware of a later version that doesn’t have this problem, I’d really appreciate being told about it. It’s got to run fine on the Oculus Rift too, and hopefully not require rewriting stuff that uses the mesh class. Not sure if that’s just in beta (I asked there and got no response).