I'm not so sure 4-4-2 is overpowered.

Personally I set up against 4-4-2 with a 4-1-2-2(wide)-1-(mixed/attacking/red arrow on one centre mid), playing a dmc that can also play mc and pushing him up into centre mid if I want to attack more. Seems to work for me, I like playing against 4-4-2.

From what I'm seeing the formation of the moment seems to be the 4-3(N)-2(W)-1, lots of players at my level seem to be using this and seem to be doing very well with it.