So you are not wrong exactly about the update, there is a lag of sorts for players over a hundred ping, and there are problems when there is a spike in ping from connection loss, but this is an entirely separate issue. With the ping cap, you can see the bullet hit trailing a moving target, that is the bullet will visibly show a hit animation on the ground or surrounding objects, and stationary targets should be unaffected because there is no difference in position between the target position with the delay and without. That is not the case with this bug.
In this case, the bullet visibly hits the target and the target does not take damage. One of the things I have noticed is I can shoot at and hit planes, but not the guy with his back to me, one within seconds of the other. Vehicles have some of the problem, that is I have not noticed any problems with my plane of choice, but for the standoff assault tank the main gun will work but not the secondary machine gun.
I think it has to do with the implementation of the kill trade system, or a slight problem with the friendly fire mechanic (friendlies behave in a similar way when shot). I am going to write a new bug report with what I have observed in the last couple of days.
