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https://forums.elderscrollsonline.com/en/discussion/683901
Cosmetic/Graphical Error with Alkosh weapons/shield
Glad the black glow effect was added back to gear for Alkosh and other trial gear, but for some reason one shields and weapons it sometimes seems to get crazy:
This is how it should look on character screen:

But this is how it looks in game:

Definitely very extreme and off-putting - you can't really make out much of the shield for colors or even details.
Don't have anymore exact info on why this might be happening, but hoping it gets fixed or others might know the cause.