Waveshare 4 inch LCD works on v4.2.3, not on v5.3.1 (AEGHB-894)

[versamodule]

Answers checklist.

• I have read the documentation ESP-IDF Programming Guide and the issue is not addressed there.
• I have updated my IDF branch (master or release) to the latest version and checked that the issue is present there.
• I have searched the issue tracker for a similar issue and not found a similar issue.

General issue report

I bought a Waveshare ESP32-S3 4inch Capacitive Touch Display.
https://www.waveshare.com/esp32-s3-touch-lcd-4.htm

They have ESP-IDF demo code for LVGL. When I tried it with ESP-IDF v5.3.1 it works, but you can tell the LCD doesn't quite like the timing.

I reached out to them and they asked to try v5.2.3. Thought for sure there was no way this would be the issue. Yet it worked just fine.

Might anyone have an idea why v5.3.1 is causing this issue ?