Its an abberation with patch 1.5's reworked RT lighting.
It happens on surfaces with certain types of materials (most notably skin) when illuminated by emissive lights. These are usually neons/holos. They are not to be confused with coloured lights. Area/Point/Spot lights are not emissives and they can be coloured.
Video example below. I'm spawning 2 light sources via AMM to demonstrate this, a directional spot light and an emissive light (an umbrella with a neon rim, although any neon light emitting prop like signage will also show this effect).
It occurs when RT Lighting is set to medium, ultra or psycho. With RT Lighting off, emissives do not illuminate skin.
If you play around with CET console commands, try setting GameOptions.SetFloat("RayTracing/NRD", "DiffuseMaxAdaptiveRadiusScale", 0.000000)
Example images:
DiffuseMaxAdaptiveRadiusScale = 5.000000 (this is the default value)
View attachment 11296945
DiffuseMaxAdaptiveRadiusScale = 0.000000
View attachment 11296948
Ray tracing at low ray counts for real time rendering is very noisy and this does not reduce the noise, but it does make the scale larger. So it shimmers like water rather than have this grainy/glittering effect. You may find this preferable. The game has to use a tonne of denoising and accumulation frames to make it look somewhat clean.