Alright, so I just played the game and encountered this very same bug.
Using Google, I found a bunch of threads about this problem.
Apparently, the game doesn't play very nice when FPS is over 60 (in my case it was somewhere between 230 and 350 at maximum settings and 4k). So to fix this (and possibly many other bugs), we need to turn v-sync on to ensure the game doesn't go beyond 60 FPS.
The problem is, this game is nearly unplayable with its own implementation of v-sync. The 30 FPS cap is one thing, but the input lag it introduces is simply far too high for me (feels like 200 - 500ms).
The solution: Turn v-sync off ingame, and turn it on elsewhere. In my case, I used the Nvidia Control Panel to force v-sync on in Dead Space. So now I have v-sync (no light tearing) and
60 FPS (more like 56+, but close enough). People with AMD GPU can use Catalyst Control Center
If you have an Nvidia GPU but can't find the Control Panel, you can find it under
C:\Program Files\NVIDIA Corporation\Control Panel Client\nvcplui.exe TL;DR
Turn on v-sync in game.
If you dislike the ingame v-sync, turn it off and use another program to enforce v-sync for the game.