The default key for hiding the HUD (PC/Keyboard) used to be H, but currently appears to not be functional. Instead it appears to activate/refresh the screen UI overlay, including the info popup at the bottom right.
I hear a lot saying key bindings not working either. And they forgot the tag button on controller, which I was able to remedy…they have had a lot on their minds…have you tried every key on the board, 
Ahuh, unable to change key configuration, nothing even shows for keyboard users on Steam.
And of course I tried every key to figure this one out! Ahum
Can you still change it in the options?
Nope, completely broken Control Config!
Updated my tool-set, checked the source, something seems wrong or even missing, not quite sure. I have other things to do though, so I decided to not spend too long on figuring it out. I am sure HG is working on the key-bind issue considering the amount of complaints and upset users.
Sorry, I meant can you still disable the hud in the settings menu, under video I think. I see the option on the PS4.
Ah, sorry, my bad, I misunderstood your question. I have not actually checked, but will do so now.
I wish I was smart enough to check there, because enabling it in the ‘General’ settings, does indeed work!
Edit: Changed the topic title a bit
I’m always surprised how many people do not check the setting in every instance they can. Although you can be forgiven due to the nature of this game and how the updates have changed so much. 
Now if only we could disable certain parts of the hud instead of the whole thing, for instance the pop ups on the bottom right.
Even more surprised when you are like me and always forget what key to use …
I kind of expected issues. BEYOND is, after all, a “point zero” version. Those commonly have extra issues. Plus the scope of what they rolled into the update was crazy!
I’m likely going to get to play it just a bit tonight … finally returning to town.