I am also noticing the same issue.
I can create a new thread if it will help, but my output looks very similar to that of ValenVanHel
FTL version showing 4.3.1 and won't update to 4.3.2
pi@raspberrypi:~$ sudo bash -x /opt/pihole/version.sh
+ DEFAULT=-1
+ COREGITDIR=/etc/.pihole/
+ WEBGITDIR=/var/www/html/admin/
+ case "${1}" in
+ defaultOutput
+ source /etc/pihole/setupVars.conf
++ PIHOLE_INTERFACE=eth0
++ IPV4_ADDRESS=192.168.1.110/24
++ IPV6_ADDRESS=
++ QUERY_LOGGING=true
++ INSTALL_WEB_SERVER=true
++ INSTALL_WEB_INTERFACE=true
++ LIGHTTPD_ENABLED=true
++ WEBPASSWORD=(#REMOVED)
++ BLOCKING_ENABLED=true
++ DNSMASQ_LISTENING=local
++ PIHOLE_DNS_1=127.0.0.1#5350
++ PIHOLE_DNS_2=::1#5350
++ DNS_FQDN_REQUIRED=true
++ DNS_BOGUS_PRIV=true
++ DNSSEC=true
++ CONDITIONAL_FORWARDING=false
+ versionOutput pi-hole
+ [[ pi-hole == \p\i\-\h\o\l\e ]]
+ GITDIR=/etc/.pihole/
+ [[ pi-hole == \A\d\m\i\n\L\T\E ]]
+ [[ pi-hole == \F\T\L ]]
+ [[ '' == \-\c ]]
+ [[ '' == \-\-\c\u\r\r\e\n\t ]]
+ [[ -z '' ]]
++ getLocalVersion /etc/.pihole/
++ [[ /etc/.pihole/ == \F\T\L ]]
++ local directory=/etc/.pihole/
++ local version
++ cd /etc/.pihole/
+++ git describe --tags --always
++ version=v4.3.2
++ [[ v4.3.2 =~ ^v ]]
++ echo v4.3.2
++ return 0
+ current=v4.3.2
+ [[ '' == \-\l ]]
+ [[ '' == \-\-\l\a\t\e\s\t ]]
+ [[ -z '' ]]
++ getRemoteVersion pi-hole
++ local daemon=pi-hole
++ local version
+++ curl --silent --fail https://api.github.com/repos/pi-hole/pi-hole/releases/latest
+++ awk -F: '$1 ~/tag_name/ { print $2 }'
+++ tr -cd '[[:alnum:]]._-'
++ version=v4.3.2
++ [[ v4.3.2 =~ ^v ]]
++ echo v4.3.2
++ return 0
+ latest=v4.3.2
+ [[ '' == \-\h ]]
+ [[ '' == \-\-\h\a\s\h ]]
+ [[ -n v4.3.2 ]]
+ [[ -n v4.3.2 ]]
+ output='Pi-hole version is v4.3.2 (Latest: v4.3.2)'
+ [[ -n Pi-hole version is v4.3.2 (Latest: v4.3.2) ]]
+ echo ' Pi-hole version is v4.3.2 (Latest: v4.3.2)'
Pi-hole version is v4.3.2 (Latest: v4.3.2)
+ [[ true == true ]]
+ versionOutput AdminLTE
+ [[ AdminLTE == \p\i\-\h\o\l\e ]]
+ [[ AdminLTE == \A\d\m\i\n\L\T\E ]]
+ GITDIR=/var/www/html/admin/
+ [[ AdminLTE == \F\T\L ]]
+ [[ '' == \-\c ]]
+ [[ '' == \-\-\c\u\r\r\e\n\t ]]
+ [[ -z '' ]]
++ getLocalVersion /var/www/html/admin/
++ [[ /var/www/html/admin/ == \F\T\L ]]
++ local directory=/var/www/html/admin/
++ local version
++ cd /var/www/html/admin/
+++ git describe --tags --always
++ version=v4.3.2
++ [[ v4.3.2 =~ ^v ]]
++ echo v4.3.2
++ return 0
+ current=v4.3.2
+ [[ '' == \-\l ]]
+ [[ '' == \-\-\l\a\t\e\s\t ]]
+ [[ -z '' ]]
++ getRemoteVersion AdminLTE
++ local daemon=AdminLTE
++ local version
+++ curl --silent --fail https://api.github.com/repos/pi-hole/AdminLTE/releases/latest
+++ awk -F: '$1 ~/tag_name/ { print $2 }'
+++ tr -cd '[[:alnum:]]._-'
++ version=v4.3.2
++ [[ v4.3.2 =~ ^v ]]
++ echo v4.3.2
++ return 0
+ latest=v4.3.2
+ [[ '' == \-\h ]]
+ [[ '' == \-\-\h\a\s\h ]]
+ [[ -n v4.3.2 ]]
+ [[ -n v4.3.2 ]]
+ output='AdminLTE version is v4.3.2 (Latest: v4.3.2)'
+ [[ -n AdminLTE version is v4.3.2 (Latest: v4.3.2) ]]
+ echo ' AdminLTE version is v4.3.2 (Latest: v4.3.2)'
AdminLTE version is v4.3.2 (Latest: v4.3.2)
+ versionOutput FTL
+ [[ FTL == \p\i\-\h\o\l\e ]]
+ [[ FTL == \A\d\m\i\n\L\T\E ]]
+ [[ FTL == \F\T\L ]]
+ GITDIR=FTL
+ [[ '' == \-\c ]]
+ [[ '' == \-\-\c\u\r\r\e\n\t ]]
+ [[ -z '' ]]
++ getLocalVersion FTL
++ [[ FTL == \F\T\L ]]
++ pihole-FTL version
++ return 0
+ current=v4.3.1
+ [[ '' == \-\l ]]
+ [[ '' == \-\-\l\a\t\e\s\t ]]
+ [[ -z '' ]]
++ getRemoteVersion FTL
++ local daemon=FTL
++ local version
+++ curl --silent --fail https://api.github.com/repos/pi-hole/FTL/releases/latest
+++ awk -F: '$1 ~/tag_name/ { print $2 }'
+++ tr -cd '[[:alnum:]]._-'
++ version=v4.3.1
++ [[ v4.3.1 =~ ^v ]]
++ echo v4.3.1
++ return 0
+ latest=v4.3.1
+ [[ '' == \-\h ]]
+ [[ '' == \-\-\h\a\s\h ]]
+ [[ -n v4.3.1 ]]
+ [[ -n v4.3.1 ]]
+ output='FTL version is v4.3.1 (Latest: v4.3.1)'
+ [[ -n FTL version is v4.3.1 (Latest: v4.3.1) ]]
+ echo ' FTL version is v4.3.1 (Latest: v4.3.1)'
FTL version is v4.3.1 (Latest: v4.3.1)
Last login: Sat Nov 9 21:55:25 2019 from 192.168.1.109
pi@raspberrypi:~$ cd /etc/.pihole
pi@raspberrypi:/etc/.pihole$ sudo git fetch --tags --all
Fetching origin
remote: Enumerating objects: 7948, done.
remote: Counting objects: 100% (7882/7882), done.
remote: Compressing objects: 100% (3032/3032), done.
remote: Total 7770 (delta 4723), reused 7715 (delta 4668), pack-reused 0
Receiving objects: 100% (7770/7770), 1.87 MiB | 7.99 MiB/s, done.
Resolving deltas: 100% (4723/4723), completed with 33 local objects.
From https://github.com/pi-hole/pi-hole
* [new tag] 2.0 -> 2.0
* [new tag] 2.8 -> 2.8
* [new tag] V2.5.1 -> V2.5.1
* [new tag] V2.9.1 -> V2.9.1
* [new tag] V2.9.2 -> V2.9.2
* [new tag] v2.1 -> v2.1
* [new tag] v2.10 -> v2.10
* [new tag] v2.10.1 -> v2.10.1
* [new tag] v2.10.2 -> v2.10.2
* [new tag] v2.11 -> v2.11
* [new tag] v2.11.1 -> v2.11.1
* [new tag] v2.11.2 -> v2.11.2
* [new tag] v2.12 -> v2.12
* [new tag] v2.12.1 -> v2.12.1
* [new tag] v2.13 -> v2.13
* [new tag] v2.2 -> v2.2
* [new tag] v2.3 -> v2.3
* [new tag] v2.4 -> v2.4
* [new tag] v2.5 -> v2.5
* [new tag] v2.5.2 -> v2.5.2
* [new tag] v2.5.3 -> v2.5.3
* [new tag] v2.6 -> v2.6
* [new tag] v2.6.1 -> v2.6.1
* [new tag] v2.6.1.1 -> v2.6.1.1
* [new tag] v2.6.1.2 -> v2.6.1.2
* [new tag] v2.6.2 -> v2.6.2
* [new tag] v2.6.3 -> v2.6.3
* [new tag] v2.7 -> v2.7
* [new tag] v2.7.1 -> v2.7.1
* [new tag] v2.8.1 -> v2.8.1
* [new tag] v2.9 -> v2.9
* [new tag] v2.9-alpha -> v2.9-alpha
* [new tag] v2.9.3 -> v2.9.3
* [new tag] v2.9.4 -> v2.9.4
* [new tag] v2.9.4a -> v2.9.4a
* [new tag] v2.9.5 -> v2.9.5
pi@raspberrypi:/etc/.pihole$