Updated Retroarch, strange new screen

I updated retroarch and now this screen shows up

What is it and what does it mean? The temporary solution isn’t hard, I just hit ALT+ENTER and retroarch goes to full screen with it gone but I would like an answer and possibly a permanent solution so I don’t have to press a key combination every time.

EDIT: Here is what it looks like when it’s in the way of a game

It’s an overlay, but it shouldn’t be activated by default. Try disabling it in Settings > User Interface > On-Screen Overlay > Display Overlay.