To show the problem, example project was created (could be found in attachments).

This project just shows connected Qt 3D Studio presentation.
This presentation contains text label only.
This text label has fixed width, contains a long text string. Eliding set as ElideRight

Test 1 precondition:
Line 11 in main.cpp (qputenv("Q3DS_DISTANCE_FIELD_DISABLED", "1") is commented.

Test 1:
1. Build and run project(Release)

Expected result: Text label is displayed in window. Text string is elided.
Actual result: As expected. (screenshot in attachments)

Test 2 precondition:
Line 11 in main.cpp (qputenv("Q3DS_DISTANCE_FIELD_DISABLED", "1") is uncommented.

Test 2:
1. Build and run project(Release)

Expected result: Text label is displayed in window. Text string is elided.
Actual result: Text label is displayed in window. Text string is not elided. (screenshot in attachments)