React Warning: Cannot update a component from inside the function body of a different component

For me I was dispatching to my redux store in a React Hook. I had to dispatch in a useEffect to properly sync with the React render cycle:

export const useOrderbookSubscription = marketId => {
  const { data, error, loading } = useSubscription(ORDERBOOK_SUBSCRIPTION, {
    variables: {
      marketId,
    },
  })

  const formattedData = useMemo(() => {
    // DISPATCHING HERE CAUSED THE WARNING
  }, [data])

  // DISPATCHING HERE CAUSED THE WARNING TOO

  // Note: Dispatching to the store has to be done in a useEffect so that React
  // can sync the update with the render cycle otherwise it causes the message:
  // `Warning: Cannot update a component from inside the function body of a different component.`
  useEffect(() => {
    orderbookStore.dispatch(setOrderbookData(formattedData))
  }, [formattedData])

  return { data: formattedData, error, loading }
}