I have had this bug 3 times now and have noticed a couple of things.
What you see is the dot at long range - but as soon as the plane would normally form , it goes invisible. You can't see friendlies either
Other arenas seem to be ok - so it is specific to CT.
You can tell before you take off if you have the problem - check net status - the variance is a flat line at -1 .
The only way I have found to fix it , is to reboot the computer.