I’m having a similar issue on PC after the update. I sign out from a friend’s server, sign in and everything I have equipped and everything in my inventory is gone. Checking the event log this morning, it appears that for 13 minutes before the server reset, I was dying over and over again. While I was signed out in my base.

About every 4 seconds, the event log entry just says my character “was killed.”

Where I signed out has 100% shelter, but is on the River N00b, so sandstorms do come by. I was on my bed. When I signed in after checking our Siptah server, no death. The same error is not occurring on the Siptah server.