@MacGeekAz's solution worked for me as well but I didn't boot into safe boot. I just uninstalled the driver using an administrator Terminal and then restarted the PC (to reload the drivers) and that worked.
Simple steps for those that reach this through google:
0. Pause windows updates and driver updates (look this up on google)
1. Open terminal as administrator
2. List drivers with this command:
pnputil /enum-drivers > drivers.txt
3. Type
pwd
and navigate to that path to find the text file. You can just copy paste the response into the file explorer.
4. Open the driver.txt file and search for 1.14.20.740 (this is problematic driver version). Take note of the driver file name. For me it was oem72.inf, for other user it was oem74.inf, for you it may be different.
5. Uninstall the driver by running the command:
pnputil /delete-driver driverName.inf /uninstall /force
, replacing the "driverName.inf" with what you got from the previous step
6. Restart computer and reconnect your Xbox controller. It should now work.