Have this issue with photo mode, couldn't find any other topics with the same issue so posting this here to add to the list of bugs with this update. Basically when I open photo mode there's a red (sometimes black or semi-transparent) layer over the screen (see image). The red overlay does appear in photos taken as well as the "Screenshot saved" text.
This issue occurs in both dx12 and dx11 versions.

My Specs:
RTX 3070ti
AMD Ryzen 5 5600x
32gb of ddr4
the game is installed on a Samsung 2tb 970 EVO Plus ssd

I'm running the latest drivers for my graphics card.