As reported by engadget,
Cyberpunk 2077 has only been available for a couple of days, but its first post-launch patch is already rolling out. Hotfix 1.04 is already available to PC and PlayStation players, and CD Projekt Red says it should go out “as soon as possible” on Xbox platforms.
There’s a long list of tweaks for various mission-based issues that could otherwise interrupt your gameplay, and there’s nothing specifically mentioned about the rogue penis problem, but the most important adjustment is probably to the game’s “bytedance” segments. As highlighted by Game Informer reviewer Liana Ruppert, it included a sequence of flashing lights that could trigger epileptic seizures. CDPR said it would address that, and in the notes says that now “The effect has been smoothed out and the flashes reduced in frequency and magnitude.”