I used to use the collapse region to collapse the section in which the cursor was placed.

After upgrading to 5.0.1 it does not work anymore.

The Collapse regions collapses everything, not only the current region.

You may want to check Editor Shortcuts and make sure that the shorcuts are assigned for the command.
Please also note that if you have "persistent blocks" checked, collapsing the selection is not possible while cursor is inside the block.

Ok I have never changed the settings for CTRL+G

I have only made shortcuts for collapse region and expand region.

Collapse = CTRL+ALT+Left
Expand = CTRL+ALT+Right

So I decided to set it back to default. That made CTRL+G work.

I then changed the Collapse region and expand region to the above, and collapse region collapsed all code ?