Version 7.4.0.161 Brandon, I recommend you open a support case to report the issue and ask them about the 7.4.1 hotfix, which I believe Support now has available for those customers experiencing the issue you're reporting.
A few other points:
I cannot address directly what happened to cause this issue for those customers reporting it, but the reports seem to be isolated to a few customers. I realize that you're experiencing the issue and that probably comes as little consolation. But the team is aware of these reports (and your logs would help the team to ensure the issue is properly corrected). We do strive to ensure all new releases are fully verified before they are made available, but sometimes an issue can occur.
There is already an internal item about rolling back to a previous version and I have added your comments and some of my own about how we might improve remediation in the future.
If you do not have the Download - Sandbox enabled, you can enable it if you want to test builds internally or deploy to a customer before making it public to all customers. And as I tell customers, upgrading to a new version is under your control. If you want to wait some time after a new release before deploying to your customers, you can certainly do so.
But for now, I'd report the issue and ask support about the hotfix.
I will speak to the team to better understand what occurred and work with them to ensure QA has this new test case in their arsenal going forward.
Thanks.