Another issue we experienced with the Jan 201 CU was that also SharePoint thought the User Profile Sync service was started, under the covers in the Services.msc snap-in, it was not (even though it was set to Automatic). The underlying error in the Event log was 'Detection of product '
Note that for another customer, were I had setup a SharePoint/Project Server 2016 environment, the January 2018 CU ships with a corrupt resource file 'PWA.en-us.resx', which prevents you from administering projects (i.e. all action buttons in the ribbon are disabled). To fix this, we overwrote the file with a copy of the PWA.resx file.