Watermark Settings are not Saving

Thanks in advance to anyone who can help me solve this issue. I have used the same watermark for years, and all of a sudden with the latest update, the settings were no longer saved. 

I tried to recreate the watermark by selecting the file I have always used, setting all of the appearance options to how they were before and saving the settings. This gets it to appear as it always has on the current document. But each time I open a new document, I have to select the file and set the appearance options and position all over again. 

I have looked through other posts about seemingly the same issue, and have checked the security settings that others have found to help them, but that hasn't worked for me. Can someone please help?