Tbh I actually never pay attention of this "black borders around objects" matter until someone on DeviantArt asked me why in my screenshot for "CPT 2017 - Night Version" mod the objects there don't have the black border around them while in his game there are such black borders around some things.
It got me interested to inspect further and I found that that black border effect is caused because in all stage lighting files they have reference to this particular "M_RGBEdgeSub_xxx" file (xxx = the stage code, like AFB, CHN, etc) that also cross-refrence further to another file called "M_RGBEdgeSub" (located in "StreetFighterV\Content\Common\Materials\PostProcess" folder), so I try to disable that file by hex-editing it so that the file itself in invalid thus the game won't load that file. and it works in every stages. I have couple of screenshots here for comparison (before and after the mod is loaded) if you want to see what is that effect I am talking about (shown here with the Sunny Days lighting mod enabled):
Screenshot 1 (see the Buddha statue in middle, the confetti, the red pole with Capcom flag, image of Chun-Li in the left monitor and then looks at Chun-Li herself)
Screenshot 2 (see the Kanji texts on the left wall, the golden trophy and around Karin's face & hair)
Also want to mention that the mod works with every stages (future stages included, provided they also have reference to the same file) and whatever lighting you use (default from Capcom or maybe the Sunny Days lighting mod or anything else). Note that since this is one of the files referenced in the stage lighting file, thus when using this mod will also cause the lighting itself to have some changes as well (like more brighter in some cases). So if you don't like this side-effect, it's okay to not use this mod.
Install the mod with whatever method (MM/PMM/~mods folder) you prefer.
Do you happen to use the ~mods folder? That issue is called "load order" issue and it just happens randomly. You can try renaming the affected mods (usually by adding "a" letter in front of its filename) or adding/removing some more mods into your ~mods folder, but keep this in mind that it's not a guaranteed fix. The only way you can guarantee all the installed mods work is by using the mod manager tool (either PMM or FMM).
As an added bonus, this also takes a little bit of strain off of your GPU since it isn't having to trace that line around every object on screen. My GTX 750TI-OC can run this game on max settings after using this mod to reduce some of the work load.
The area this mod truly shines though is in relation to female characters. The removal of the black outline softens the proportions and makes the hands and feet slightly smaller (there's no longer a black line tracing around them). It also makes the facial features and body curves slightly softer...making them appear more feminine. Take a bikini mod, and look at the character, then install this mod and have a second look. It makes a big difference despite being such a simple graphics change.