We ran into the exact same bug. We built a brand new base after the update.
We had pallets, storage crates, smoothie machine, workbench. They would all suddenly disappear and show in one corner under the base, completely nowhere near where the item actually was supposed to be. You could still access the items from original places, they were just invisible.
Friends I was playing with also had the exact same thing happen to them. Except for the host. The host never has issues.
We are on Xbox One X.
We haven't had this issue before, so it appears to perhaps be a new big introduced with the update from yesterday.