It’s asymptotically the same as the simple recurrence
$$T'(n)=8T'(n/4)+n^2,$$
which solves to $T'(n)\sim2n^2$ by any of the common methods (where as usual, I write $f(n)\sim g(n)$ for $\lim_{n\to\infty}f(n)/g(n)=1$).
On the one hand, $T'(n)\sim2n^2$ provides an upper bound on $T$. If you want to only estimate the recurrence up to $\Theta$, you are done: $n^2\le T(n)\le T'(n)=O(n^2)$ gives
$$T(n)=\Theta(n^2).$$
For a more precise estimate, let us unwind the recurrence:
$$\begin{align*}
T(n)&=n_0^2+8n_1^2+8^2n_2^2+\cdots,\\
n_0&=n,\\
n_{i+1}&=(n_i-\sqrt{n_i})/4.
\end{align*}$$
You can prove by induction on $i$ that for any constant $i\ge0$,
$$n_i\sim4^{-i}n.$$
It follows that for any constant $k$, the sum of the first $k$ terms of $T(n)$ is
$${}\sim(2-2^{1-k})n^2.$$
Thus, for any constant $\epsilon>0$, $T(n)\ge(2-\epsilon)n^2$ for sufficiently large $n$ (depending on $\epsilon$), that is,
$$T(n)\sim2n^2.$$
More precisely, one can show that both $T(n)$ and $T'(n)$ are $2n^2+O(n^{3/2})$ (where the hidden constant depends on the initial conditions).