Windows 10, version 1909 Bluetooth connectivity issue - Unable to discover or connect to Bluetooth devices using some Realtek adapters

Windows 10, version 1909 aka Windows 10 November 2019 update users are reporting Bluetooth connectivity issue. They are Unable to discover or connect to Bluetooth devices.

If you are one of the person experiencing this Bluetooth connectivity issue in this latest Windows 10, 1909 update, then there is a good news as well as bad news for you. The good news is Microsoft is aware of the issue, but the bad news is we don't know when the fix will be available.

Microsoft has identified compatibility issues with some driver versions for Bluetooth radios made by Realtek. To safeguard your update experience, we have applied a compatibility hold on devices with affected driver versions for Realtek Bluetooth radios from being offered Windows 10, version 1903 or Windows Server, version 1903 until the driver has been updated.
Even though Microsoft has temporarily paused the Windows 1909 update to the devices that are not compatible, there are still users (like me) who has installed the update using different ways like Media creation tool.

There is a Workaround for this issue. All we need to do is to install the latest drivers from Official Site. The Realtek driver version should be greater than 1.5.1011.0 as per Microsoft.

If the version is not available then we request you not to upgrade it to this OS else wait for an Official fix.

I will update the post once we have more information.