Does Cyclonic Rift's overload affect permanents your opponents control that have hexproof?

Hexproof (CR 702.11) protects a permanent from being targeted by spells or abilities controlled by opponents. The key word is 'targeted.' A spell or ability only targets if it uses the word 'target' in its text, or is an aura being attached.

When Cyclonic Rift is cast with overload (CR 702.98), the word 'target' is replaced by 'each.' The overloaded version reads 'Return each nonland permanent you don't control to its owner's hand.' Because it no longer uses the word 'target,' it does not target any permanent at all.

Since no targeting occurs, hexproof provides zero protection. Hexproof only stops targeting; it does nothing against sweeping, non-targeted effects like board wipes, 'each permanent' effects, or similar global spells. This is explicitly supported by CR 702.11b, which states hexproof only prevents the permanent from being 'the target' of such spells or abilities.

Concrete example: Your opponent has a Teferi, Mage of Zhalfir (which has hexproof via shroud — but even hexproof works the same way here). You cast Cyclonic Rift with overload. Teferi is not targeted, so hexproof does not trigger, and Teferi is returned to its owner's hand along with every other nonland permanent your opponents control.

Bottom line: overloaded Cyclonic Rift affects all nonland permanents your opponents control regardless of hexproof, shroud, or protection from blue, since it neither targets nor deals damage — it simply returns them as a blanket non-targeted effect. (Note: protection from blue would also not save a permanent here, as protection only stops targeting, blocking, damage, and enchanting/equipping — not 'return each' effects.)