The issue is not weapon/tool related guys. Try to look down holding anything or your bare fists. You cannot - the animation is locked (your character not even look at the point your cursor is, it is constantly looking forward), you simple can’t aim lower than this —> https://i.imgur.com/Gv8WOBC.jpg (i took the screenshot looking down, not aiming at this level (you sink the spear on the ground if the animations is working properly like this one https://i.imgur.com/QxCv1PG.jpg). Notice that both screenshots was taken from the same angle and the character head direction is not the same.
The pickaxe and some other tool/weapons you don’t notice too well because at some level, it functions “normally” (you can hit the stones or hit with some weapon classes) but anything that needs some level of aiming is just useless until you suicide to fix the issue.