Looks like Tango and Bethesda were listening to it’s fans and have released a patch for the PC versions that adds a number of improvements, most notable is the removal of the letter box “black bars”. Thank the gaming GODS!
- Frame lock settings added
- In settings, you can now toggle between a 30 FPS and 60 FPS cap. *Checked and it’s 60 FPS with V-sync enabled*
- Letterbox setting
- UI toggle to disable the letterbox bars
- Fixes gameplay issues when running at >30 FPS
- Fixes for visual issues associated with removing letterbox framing
- Achievements now work when console is enabled
- Fix for game starting in windowed mode on first run
- Minor localization fixes
So there you have it, go fire up The Evil Within to have the patch automatically download via Steam.
Source: Bethesda Official Forums