This water bug doesn't have anything related to retina display, it's just another driver bug in OSX (seems to happen in the Iris Graphics from 4th generation of Intel processors). As far as I know, there no workaround but you can use Boot Camp and run Dolphin in Windows; you won't experience these glitches and it should give you a little better performance than running Dolphin on OSX...
Avell A70 MOB: Core i7-11800H, GeForce RTX 3060, 16 GB DDR4-3200, Windows 11 (Insider Preview)
ASRock Z97M OC Formula: Pentium G3258, GeForce GT 440, 16 GB DDR3-1600, Windows 10 (22H2)
ASRock Z97M OC Formula: Pentium G3258, GeForce GT 440, 16 GB DDR3-1600, Windows 10 (22H2)