Windows 8 Pro
The complete section in my "C:\Users\...\Documents\My Games\Life Is Strange\LifeIsStrangeGame\Config\LifeIsStrangeEngine.ini" is:
[Engine.LocalPlayer]
AspectRatioAxisConstraint=AspectRatio_MaintainYFOV
It was the only occurrence of "maintain" in the file, and I just changed X to Y. I don't have a change in the game, though. I know that the FOV should be significantly higher, just like it worked in Styx, but the FOV isn't affected. Starting a new game doesn't help. The above file is also still just like I quoted it.
Btw., the FOV fix tip says to search for "[AspectRatioAxisConstraint=AspectRatio_MaintainXFOV]" and change it accordingly, but the brackets are probably an editing error, the real text format is different (without brackets).