Horizon Forbidden West has been updated to version 1.08 today by Guerrilla Games. You can get the complete patch notes from here.
The new update appears to have resolved a large number of bugs. Guerrilla Games has also shared a list of the known issues for Horizon Forbidden West that they are still working on for now. This includes a fix for graphics where users were reporting sharpening, shimmering, and screen saturation issues. You can get the details on this update below.