As above, basically, boot in, modes are deactivated. Checked the .ini tweaks that prevented this happening previously (as outlined on Nexus), and the tweaks are still there, as entered.

Anyone else getting this, have any suggestions, or know of anyone working to fix this?

Cheers.

Numpty clarification:

The game launches from NMM Launcher, but does not launch with mods from the Steam launcher (prior to the update, mine was actually launching with mods from Steam).

Works the same as before for me. I never use the NMM launcher, so can't speak for that. NMM has some issues with handling FO4, but that's another story.