Bugsnax has been updated to version 2.04 today by Young Horses. You can get the complete patch notes for this update from here.
After releasing the Isle of Bugsnax update, the developers confirmed on Twitter that they were working on resolving an issue with one of the boss battles in the game that could also lead to a progression block. The new update is out today and it could be related to this bug.
Bugsnax Update 2.04 Patch Notes
We’ve been made aware of a bug in the Isle of BIGsnax boss battle that can block progression. We’re working to fix it ASAP. In the meantime, a workaround is to avoid manually redeploying the Buggy Ball from your inventory until it reappears on its own for the final phase.
Here are the patch notes for Bugsnax update 2.00.