Heads up for Sprint users ( and all carrier versions really). This is a post by autoprime over on XDA. Looks like the update probably won't allow rollback so it's possible the root method that exists may not work after taking the update. Time will tell.
His post is below and came from this thread:
The LG-G4 Ⓛⓞⓤⓝⓖ… | LG G4 | XDA Forums
Howdy. Appreciate the thought. Fortunately I actually had the update sent to me last night. Having looked at the update I can confirm it does update the bootloader to that "1" version.. so as far as we can tell... you'd never be able to go back to "0" (ZV4). Unless LG messed up or missed a part to properly block antirollback/downgrading... antirollback is set.. checking with previous phones.. it is NOT set.. so we can only assume it's finally real. Once root come out.. some lucky tester can try downgrading in the name of science... see if he survives it (preferably someone with insurance.. or someone that works at a phone store that can swap it out for free).
I would try to avoid the update if possible. It's very possible people who updated will still be able to root/unlock in the future (if we even get an unlock)... but it's only 100% if you have not taken it.