CTRL-Shift-R always worked prior to this update. I opted for the clean install that wiped out previous versions. Video recording is still enabled in the settings. When I press CTRL-Shift-R, nothing happens. Previously, the Radeon software logo would appear in the upper right saying recording started, and pressing CTRL-Shift-R again would stop the recording. Recordings were saved in the default Videos->Radeon ReLive folder.
I tried changing the hotkeys to different ones, like CTRL-Shift-E and CTRL-R, but that didn't work either.
Then I tried updating to the latest beta driver version 20.5.1 and it still didn't work. I uninstalled Radeon Software in the Windows Settings, and reinstalled 20.4.2. Still doesn't work. Nothing happens when I press CTRL-Shift-R.
For completeness, the rest of my system:
Windows 10 Home 64-bit
Gigabyte Z390 AORUS PRO motherboard
Intel i5-9600K CPU
XFX R9 380 4GB video card