As of update 0.604.0.6040509, the Camera Inverted setting doesn’t function any more, this issue affects both the client and studio.
Shown in the video: I show what the camera behaves like with ‘Camera Inverted’ turned OFF, I move my mouse up and down twice, then do the same whilst holding right click, the camera follows the up and down movement as it should at this point.
I then switch ‘Camera Inverted’ to ON, I move my mouse up and down twice, then do the same whilst holding right click, the camera still follows the up and down movement, though it should be doing the opposite at this point.