I had this same problem. Its a bug. After the update it is not actually using the settings you have set in the graphics menu. So even though it is set to ultra the update borked it. You have to change to medium or low, apply, then change everything back to ultra and apply again. Now it should look ultra again. I have noticed a lot of people having this problem. I opened a zendesk ticket. Try this out and confirm it is your problem and if so report it as well. We may need to have a whole separate post just for the graphics issue to separate it from the other tall building issue.