Has this issue been fixed on Patch 98?
I've tried it 10 mins ago and still not working. I hope it gets fixed soon. 
Wireless Xbox One gamepad - firmware version 4.8.1923.0
Windows 10 - version 2004
Posts by psycholino
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So this, the XBOX controller has a lot of troubles after the update and X Y buttons are not working anymore, also you can't select UI elements wtih the gamepad anymore, People playing with ps3 controller seems does not experience the bug.
I can confirm this.
I have the same problem. The controller is fine in other apps, but not in TERA.
