In one of the threads on this topic, P_I correctly identified that the manner in which 3.2.6 and 3.2.7 had been applied was creating an issue. Specifically, in Knowledge Base - Updating 3.2.x
, it is instructed to delete the current /vendor directory before uploading the new version's /vendor directory. i.e. You can't just "upload and overwrite the existing directory", because there are actually files which need to be removed
from the vendor area.
Deleting the current /vendor directory and then uploading the /vendor directory from the phpBB full package download had resolved the "hyperlinks not being rendered as hyperlinks" issue, for at least two users.
So if you think your method of installation wouldn't have already done that, either with the original 3.2.6 update and/or with the current 3.2.7 update, you might try that in order to rule out this possibility as well.