Hello,
It seems that I was able to reproduce this issue in the latest hotfix. The settings are being saved in the database but the checkbox state is not being saved. Could you verify it is the same on your end - do you have the ability to check the CMS_User table in the database and verify that the UserVisibility field contains something similar to the following for the user in question:
<form version="2" name="cms.user.EditProfile"><field column="FullName" visibility="none" /></form>
Best Regards,
Sandro