It could also be phono stage overload or peaking, which is very common and produces exactly this sort of distortion. I've heard it in many phono stages. Atmasphere has posted repeatedly on this, offering better technical explanations than I could.
Only way to test that is to insert a different (i.e., "better") phono stage and see if the sibilance changes.
Only way to test that is to insert a different (i.e., "better") phono stage and see if the sibilance changes.