Found a fix... it's a way to bypass the item being stuck in your hand (maybe unless its food) (but my gun was bugged in my hand so this fix works like a charm)
1. Take gun in equipment slot one and send to inventory
2. Equip stuck gun in hands with X... and BOOM inventory works again and items can be switched between weapon wheel and inventory
Still would be nice to not have that happen especially in the instance of a fight with players or multiple zombies seeing as though the glitch doesnt allow for the switching of magazines.. putting bugged player at a major disadvantage having to rummage around in inventory during said engagement