I am not sure when exactly this problem showed up, but none of party members character models show their capes/cloaks that they have equipped. Naturally, all the capes still work stat-wise, but I really miss seeing them. Any ideas on how to fix it?

Playing on Windows 8 on an older (4-5 year) laptop. Graphical settings are mostly set to low and I have my resolution turned down a bit. General performance is fine, only other real issue is longish load times and occasionally pulling up the map lags when I enter a larger area.

Appreciate any help.

Try to repair / verify the game files in the GOG launcher.

Are you using any mod?

I have a mod launcher installed, but I have not actually gotten around to installing any mods.