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With the latest Firmware 2.41 SMS games work again. So you just need to update to the latest Firmware now and it´ll work again.

This is a known issue with the 2.3 beta 3 and also with the new 2.4. Master System games last worked with the 2.3 beta 2.

To everyone who wants to play Master System games: Don´t install this update because Master System games will not work anymore.

Yep, it´s the same "Cartridge was removed" error.

I´m using the Master System Converter II.

In my case fewer games work after the upgrade.

In fact Master System games in general didn´t work anymore.

I downgraded back to v2.3 beta 2 and it works fine again.