Date & Time: 28/06/2024
Frequency: Constant since graphical update
World name: Ultros
Character name: Legitimate Risk

Steps:
1. Open system configuration/graphics settings
2. Toggle "Glare" settings
3. There is no difference in the intensity or presence of the glowing "bloom" effect around light sources, which this setting served to control prior to Dawntrail.

I don't recall if there was a separate option to fully disable the effect, but it could regardless be disabled via the glare setting. At present, with the bloom effect, the game is difficult for me to look at, and the setting seems to make no difference at all.

Example images, using selene as a light source:





as compared to here, with the effect disabled: