I'm not a tech wiz or anything of the sort so hopefully a few people can shed some light. Is it possible to fix such texture issues? also, how long (estimated) would it take for this sort of patch to arrive. Thanks.

I'm sure it is very fixable. It's just a matter of whenever Bethesda feels like formally addressing the forums and releasing a patch. Assuming Microsoft does not give them a hard time, I hope this issue will be fixed no later than in a week.

If it takes longer than a week to address, fix, and patch this issue, Bethesda is definitely going to start experiencing a lot of lash back in the forums.