So, have you updated the hardware panel as well as the switcher?
From the manual page 25. (manual found here:
https://www.blackmagicdesign.com/suppor ... -switchers)
Updating the Broadcast Control Panel Software
Connect the broadcast panel via USB to your computer. The broadcast panel is equipped with a USB connector which can be connected to a computer's USB 2.0 or USB 3.0 port using a USB cable.
When upgrading software, make sure the broadcast panel is the only ATEM device connected via USB to the computer running the setup utility software. If more than one ATEM device is connected, the panel may not be recognized.
Launch the ATEM Setup Utility software.
If the broadcast panel software requires updating, you will be prompted by a window asking if you would like to update the software. Select Update Now to initiate the update process. The update process may take a few minutes. Do not unplug power from the panel during the software update.
Once the software update is complete, a window will prompt you to cycle power on the broadcast panel. Select OK and cycle power on the broadcast panel.