The Epic Games Support Center has word that a hotfix is now available to address a bug that could cause the loss of saved game progress in Borderlands 3. At the same time they clarify how to proceed if the system warns you of a conflict between local and cloud saved games for users playing the action/RPG sequel on more than one system. Polygon has a statement on this from 2K Games about how seriously they are taking this: "We understand just how frustrating this situation is for those who have been affected, so we’re working with our partners at Epic to monitor the situation and ensure the issue gets fully resolved," a 2K representative told Polygon. "We’re listening closely to our community and players, and will continue to do all we can to ensure the best experience possible for everyone." Here's Epic's update on the topic:

How do I handle Cloud Save conflicts?
If you are playing games with Cloud Saves on more than one device through the Epic Games Launcher, you may run into Cloud Save conflicts. This is usually because you have played the game offline on one machine.

If there is a conflict, you will be prompted with the following window:

[snip]

If you see this pop-up, make sure that you select the newer file to avoid losing data. If you select the incorrect one, it may result in lost progress. Any progress lost is not recoverable.

Borderlands 3 issue
We have received reports of an issue with the Cloud Saves feature that can cause some players to lose their save data for Borderlands 3. We have identified the following chain of events that result in this issue:

• You play on Machine A offline or with Cloud Saves not enabled.
• You then play on Machine B online, realize your save from machine A has not transferred, and then quit the game.
• Then, you swap back to play on Machine A online, pulling down the empty profile from Machine B.
• When this happens, the screen pop-up shown above displays, to help resolve the conflict between the save states. However, we have identified a bug in which that screen is not always appearing.

We have shipped a hotfix that addresses this bug. This screen will help ensure players are able to choose their preferred and correct save states going forward.