Recovering from a GTA 5 update

Every time Rockstar updates GTA5, almost exclusively for online play, there is a good possibility that there will be problems. After Script Hook V has been updated, your game will likely still have issues keeping you from playing with mods.

Update Recovery Guide
1. Gameconfig mods (gameconfig.xml) might need to be updated. This is a common issue after a game update. Without an updated version of this mod your game may crash or hang at the loading screen, often without any error message. Check for updated versions and remember you may need to experiment with different gameconfig mods. Only if you know what you're doing, you might have to manually change values to get your game working again. Worst case, if you have backups, you can revert back to the previous version of GTA5 that worked for you.
2. Outdated mods. The older a mod, the more likely it is to break after a game update due to changes in the game engine and/or so called native functions. This applies primarily to mod scripts, missions, and tools. Addons such as peds and vehicles are rarely impacted but they can conflict with new DLC. You can check the comments on the Mod pages to see if others have similar problems and/or potential fixes.
3. Update.rpf. If you haven't backed up this file, the one from your Mods Folder, now is the time to do it. After the update, depending on how you proceeded, it is possible your update.rpf, which contains important user files such as your dlclist.xml and your gameconfig.xml, got overwritten/replaced by the game version. In fact, you will very likely get a message from OpenIV telling you your update.rpf is outdated and even warning you all your changes will be erased if you proceed. You will need to restore those 2 files and any others you modified in update.rpf. Of course regardless, you may need to update to a new gameconfig as in point 1, to get your mods functioning once more. Some users claim to have fixed issues simply by coping update2.rpf over to the mods folder as well. This file was introduced in the April 2022 PC Update.
4. Installing in Game folder. If you made changes, such as replacing cars or textures or sounds etc. directly in your game folder, you could lose all those changes assuming those particular files are updated. However if you installed addons such as cars in the game dlcpacks folder instead of your mods dlcpacks, it is unlikely those will be impacted although they will no longer load until you add them back to dlclist.xml. Either way, it is strongly recommended to use a Mods folder rather than editing the games folder. Once more backup the changes you make.
5. New DLC from Rockstar Update. Unfortunately the new DLC, almost always exclusively destined for GTAO (online), can also cause issues. You can avoid these issues, if suspected, by simply removing the entries for the new DLC from your mod version of dlclist.xml   6. Other files. You don't need to worry about any mods you installed in your root folder, mods folder, or scripts folder. Game updates, similar to reinstalls and verify integrity, only affect game files and game folders.

One final note, if you only play single player and you have no interest in the new DLC, consider reverting back to a previous version of GTA 5. That will solve all issues permanently.

See also
The GTA 5 911 Mod Solution When All Else Fails - No Fix Works!  The Ultimate Troubleshooting Guide  Other Troubleshooting Articles