Looks like P1 has put the fix up for the rest of the photographers. I have downloaded and installed it.
Note, update seems to be basically a bit switch, as it only takes about 2 minutes to complete unlike all previous IQ/XF updates that take up to 5 to 8 minutes and require the long period of LCD black out on the IQ4, (only see the blue light at bottom). But I can confirm on start up if set to 16bit EX, count is correct now.
List of issues, quite long.
Known Issues and Limitations (IQ4)
We are working on a firmware update to come with additional functionality and correction of the following known Issues and limitations:
• The Automated Frame Averaging will not automatically show a preview of the resulting image on the IQ4 once finished. Please review the image be using the Viewer, Browser or Tool Viewer.
• Note that when you decide to stop the Automated Frame Averaging sequence before time, it will take more than double the selected exposure time to finalize the process. The IQ4 will not currently give any feedback that it is finalize the process, so please wait.
• Under some conditions when using Automated Frame Averaging, individual Frames of 2.0s will require the XF to be manually exited from the exposure via the XF Shutter Release Button.
• When using Automated Frame Averaging in conjunction with the IIQ 16 Extended file format, the total number of frames changes as the sequence is started. However, feature works as intended.
• Automated Frame Averaging doesn’t work correctly when the IIQ 14 Sensor+ file format is used as the sequence never completes. Please use another file format.
• The Direct Image Transfer feature only transfers RAW files, not the JPEG versions. If SD Storage is set to Off, the files on the SD card will not be transferred. Likewise, if the SD Storage is set to Primary Storage, the files on the XQD card will not be transferred.
• The IQ4 will not work correctly with Capture One Styles created in Capture One version 10 or earlier. If you have an old style that you wish to use on the IQ4, please apply it to an image in Capture One and then save it as a new style before importing it to the IQ4.
• You can include all of Capture One Pro’s image adjustments as a Custom IQ Style. While Capture One Inside on the IQ4 can render most of them, it cannot display them all. This discrepancy will be taken care of automatically as the IQ4 will disregard those not supported, and the all included adjustments will be retained and rendered once the RAW files are opened in Capture One Pro.
• You can currently not assign a static IP address on the IQ4 for WiFi and Ethernet connections, so please use a network which can assign an IP address (DHCP).
• Custom White Balance setting applies to the next captured image(s) only.
Paul C