Huge problem for me as a map maker.
When effecting mobs with invisibility (tested on villager and armor_stand) the item the mob is holding will follow you in a relative postion in your screen.
The bug is purely visual and was reported as resolved. it certainly isnt!

the armor_stand is on the redblock but the item its holding is visually still in the position relative to me when i effected it with invisibility.

Normally i would do it using the command /effect @e[type=armor_stand] invisibility 9999 1
used the invisibility potion this time for extra clearity about the problem.

The problem is apperent on all current Minecraft Bedrock edition versions.