I have reset prefs, logged out, logged in, rebooted, checked view for show bounding and still having this issue. Using the direct selection tool the object(s) I select do not appear to be selected. They in fact are, but there's no UI feedback that's show which things are selected.
This is extremely frustrating and is just about costing me a deadline. I am not a novice user, over 30 years with your product. What's going on? And yes this is the update that just rolled out.