Chosen Solution
I recently dropped my Oculus when trying to clean the lenses and although it still functions with no noticeable loose parts, changes in the IPD using the slider are not detected in the software. The lenses themselves move and I can get a clear image but as my IPD is ~60mm and the software is stuck reading at 71mm in-game perspectives are not correctly scaled.
A few things to try: Try rebooting the Oculus rift try rebooting the PC try reinstalling the Oculus rift program try moving the sliders for lens distance to the minimum and maximum while the rift is not connected to the PC and then try plugging it in again after doing that.