Unannounced Oblivion Remastered update is causing havoc with graphics settings

An unexpected and (as of the time of writing) unannounced update to The Elder Scrolls 4 Oblivion Remastered is causing frustrating issues with some players’ graphics settings. A smattering of reports claim that since this new Oblivion Remastered update dropped, graphics settings have been reset or, in some cases, entirely removed.