I am unsure where the root directory is
It’s the same directory as where the wp-config.php file is located.
Is there a way I can uninstall 4.0 and resume using my previous version where the insert/edit link function worked?
Yes, by downloading WordPress again and delete then replace your copies of everything except the wp-config.php
file and the /wp-content/
directory with fresh copies from the download. This will effectively replace all of your core files without damaging your content and settings. Some uploaders tend to be unreliable when overwriting files, so don’t forget to delete the original files before replacing them. ??
Also, is this something that will be resolved through a WP update or will this not be fixed (poentially) until I edit the wp-config.php?
It’s hard to tell. If the line in wp-config.php works, then it won’t be “fixed” by an update, as the problem is on your server, not WordPress.