I bought the game just yesterday to see if Inti Creates somehow removed the lighting effects from the Switch/PS4 versions entirely, but that doesn't seem to be the case for some users. On the same Steam forum thread that was reference, a couple of other users — myself included — have not ran into the problem with fullscreen making the game 4:3 and the dynamic lighting effects are present at least for those with Nvidia video cards while these issues appear to be cropping up for AMD video cards.
Forum link:
• https://steamcommunity.com/app/774651/discussions/0/1639792569834422522/
My own screenshot of the game, with (exclusive) fullscreen and lighting effects working:
• https://steamcommunity.com/sharedfiles/filedetails/?id=1822291233