I tried the latest Windows binary snapshot as of 6/16/2020 and when I launch Exult it tells me:
Could not find the static data for either "The Black Gate" or "Serpent Isle"
I checked my exult.cfg file and it is set correctly. I tried moving those data folders to other locations and trying a variety of options in my exult.cfg file, but it would not recognize the game folders (from my Ultima Collection CD). I reverted to 1.6 and it once again worked perfectly fine. I went back to 1.7 snapshot with the same working exult.cfg and once again it simply will not find my data folders.
Thanks, we noticed this, too and it was fixed at the time of your report but it was too late at night to upload a fixed snapshot. Done that now!
It's reassuring that people pay attention!