Previously, disabling either the HUD or QB in the game options still allowed the player to bring those UI elements up, albeit for a few seconds (like a quick-peek). They would then auto-hide after a few seconds (like the feature of Windows' autohiding task bar). This was much preferred UX to what they do now where the key bind (tilde and long-press tilde) does nothing when these are disabled. That makes it impossible to bring up those status indicators without going back into the game options and enabling them directly. While a player may be disabling those for immersion, they are still the only way to check on vitals like hunger, temperature, etc. In short, the pervious functionality was much preferred as it gave a quick way to check on those vital stats.
In short, if this change in behavior of the HUD/QB game options was an intentional design change it is not desirable compared to the old auto-hide. I suggest returning the old "auto-hide" functionality.
UPDATE: See my reply and comment. If these were a mod, I'm hoping such quick-peek/auto-hiding functionality could be added in the base game.