I was having this same problem and I too thought it was frozen. The "fix" is to tweak your draw distance. Either up or down should work.
I also noticed that issue will go away if you use the preset draw distances that you get when you cycle the main "quality" setting. These numbers are all "whole" numbers... ie 1600, 2400, 3600. There might be an issue when the number is manually set with the slider and it is random... ie 1634, 2434, 3698. Just a guess.
On a final note. It would be nice to be able to directly input numbers into the sliders instead of being forced to use the very inaccurate sliders. It doesn't seem possible to get the exact value you want with the slider. I know many game engines and 3d in general likes to work with whole numbers for better performance.
- Shiva OUT
