As of right now, the problem is still being investigated. Arch devs as well as @dalto (who’s been a legend during all of this btw), are discussing the issue via the bug report here: https://bugs.archlinux.org/task/75701
For a majority of users the solution @sradjoker has posted works here. That thread alone has seen over 4k views in only two days which just shows the gravity this grub issue has had. It is interesting to see whether this has affected more Arch or Arch-derivative users, but all things are still ongoing so it’s hard to say at the moment.
I fixed my own issue with method 2 since and everything has worked fine for me. But I am tempted to look into systemd-boot now as a possible alternative. I don’t want to knee-jerk anything on my system at the moment, so since everything is working, I’ll wait and see what the Arch devs and grub upstream determine. For now, just a wait and see! 