I dont know if this is a glitch or on purpose but I have tested this using magic and the place your actual attack lands is much lower then the crosshair while in 3rd person.
In 1st person its perfect and everything aims directly towards your crosshairs,but if you change to 3rd person,all ranged attacks hit lower. I tried Flames and Sparks and they both striked much lower,if I had to aim,I would always be forced to move the crosshair above the enemy in order to strike them.
Is this intentional or is it a problem with the placement of the crosshairs in 3rd person?