After speaking with Ableton, they have confirmed the issue is on their end. They will be rolling out a fix in version 10.0.3. Please roll back to 10.0.1 for the time being or utilize the workaround specified below:
Specific to Ableton Live | AU | Virtual Mix Rack | e2deesser | AirEQ
Investigating this issue has allowed us to highlight an issue with AU parameters management in Ableton Live. We have initiated a discussion with Ableton and the bug has been logged in their development planning.
While waiting for Ableton's fix, we have the following workaround...
The issue doesn’t occur if plug-in parameters are “known” by Ableton live i.e. parameters are displayed in Ableton Live plug-in Device window (click downward arrow in your plugin window to show these parameters).
For plugins that expose more than 64 parameters (= VMR / e2deesser / AirEQ), these parameters are not shown in this window, but if you click configure button and modify your parameters in your plug-in UI, these parameters will be added to device window.
It looks like they may have fixed in the issue in the latest beta. Here are the release notes for 10.0.3b: https://www.ableton.com/en/release-notes/live-10-beta/
The bug fixes that affect us directly are:
• Fixed some issues with VST and AU plug-in parameters, particularly where unconfigured parameters were heavily adjusted within the plug-in.
• Fixed a bug which prevented AU presets from recalling parameters correctly.
Feel free to join Ableton Beta testing community here to use a beta version for 10.0.3.