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If you're feeling daring, you could try re-installing 3.1.6 core again + the latest hotfixes.

You can put your SVP and MPC-HC settings back to however you want them. (though personally I still recommend "D3D Fullscreen" and "Intel QuickSync")

which considering your username of "Nyan" you probably have a couple videos with such things

If you're willing to go for broke, try re-installing the SVP core, but using the previous 3.1.5 version instead

And what is the CPU utilization with SVP open but interpolation mode set to off while playing back the problematic video?

Does the working video work with higher settings, such as 3c?

Assuming that you are OK with losing any profiles you've made, try resetting your SVP profiles to the default setting of 1c.

Again, in File -> Properties, click the MediaInfo tab, under "Video" look at "Bit depth".

What does it say?

And while you're at it, while still using those settings I mentioned before, try disabling "GPU acceleration (OpenCL)" in SVP.

EDIT: One thing is to make sure that the SVP profile you are changing is actually being used.  You can confirm this by looking at the list of SVP profiles while SVP and the video is paused - the active profile should be bolded on the list.

Try the following:

Set "Decrease grid step" to "Disabled (default)"

If that's not enough, also do the following:

Set "Motion vectors precision" to "Two pixels"

If that's still not enough, do this as well:

Set "Frames interpolation mode" to "2m (min artifacts)"

If you still have problems, then make sure your video isn't encoded in VP9, because unless you use a trunk build of LAVfilters you'll have massive CPU usage when decoding 1080p VP9 videos. (if you're playing via MPC-HC, you can find this out via File -> Properties)