I think I had this bug some time ago and it seems it's back.
When my 2H axe is not visible on my back or in hands, I can see something like a shield down under my feet, which "follows me" while I move - see the screenshots.

PC EU (PL): 14 characters. ESO player since 06.08.2015. Farkas finest quote: "Some people don't think I'm smart. Those people get my fist. But you, I like."