The 4.16.3 Hotfix is now live! This hotfix resolves a number of important issues in the 4.16 release.

Feel free to discuss this release on the 4.16 Forum thread.

If you experience a bug with the 4.16.3 Hotfix, please follow the How to Report a Bug guide to report it on the UE4 Answerhub.

Special Note
This hotfix disables PCM by default (the new PhysX contact generation algorithm) due to jitter issues in 4.16. If desired, you can re-enabled it by navigating to Project Settings > Physics > Simulation > Enable PCM.

Fixed in 4.16.3

Fixed! UE-46663 The sphere in the rolling template bounces repeatedly on contact with the floor due to collision
Fixed! UE-46487 Component overlap tests against assets consider only the first collision shape in the asset, causing incorrect overlap events for swept movement
Fixed! UE-46595 Package fails to load due to EditorOnly data when launched onto Mac or Windows
Fixed! UE-47332 Case of "iOS" folders is inconsistent
Fixed! UE-47433 Rare server crash in FMallocBinned2::FPoolInfo::AllocateRegularBlock due to memory corruption
Fixed! UE-47625 Mac Build machines continuously fails to sign iOS/tvOS binaries
Fixed! UE-47657 Linux - Steaming Levels not being triggered
Fixed! UE-46534 Cannot call blueprint events on CDO
Fixed! UE-46974 [CrashReport] Tutorial crash UObject::execLetValueOnPersistentFrame()
Fixed! UE-45570 Android mediaplayer does not disable audio if track set to INDEX_NONE
Fixed! UE-46134 Invalid > at the end of android:hardwareAccelerated in AndroidManifest.xml
Fixed! UE-46539 Need to remove dependency on log2 on Android for older versions
Fixed! UE-46512 AAR and JAR dependency versions with 0 in version not handled properly
Fixed! UE-45559 [CrashReport] Access violation in UE4Editor_Engine!FDistanceFieldAsyncQueue::ProcessAsyncTasks()
Fixed! UE-46650 "When Finished" Section property does not serialize correctly
Fixed! UE-46930 [CrashReport] UE4Editor_MovieSceneCapture!FormatForEDL() [moviescenecapturehelpers.cpp:216]
Fixed! UE-46840 Unable to Save or Close Editor after Copying .FBX to Content Folder via Project Directory
Fixed! UE-46391 [CrashReport] Crash related to mesh reimport - UE4Editor_UnrealEd!UpdateSomeLodsImportMeshData()
Fixed! UE-46933 Building lighting can reset the package localization ID for a world
Fixed! UE-46403 Localization is gathering from instanced sub-widgets