I don't think any champion could benefit more from a Balance Update than Riven
By Balance Update I mean a small gameplay rework akin to 4.12 Lucian
Right now Riven has no identity, no specific niche or role in League. Right now she's very "do everything" and her kit pulls her in all sorts of directions. Is she a melee carry? Her steroid, mobility, and mini-crit passive certainly suggest so, but then why does she have two hard CCs? Is bursting people via animation cancelling supposed to be her identity? Because her shield, CCs, and low cooldown escapes don't really mesh well with that either. A tanky initiator or peeler role for her doesn't fit either, because while her CCs are certainly low cooldown they don't have the impact to lockdown opponents. They really only feel like substantial CCs if Riven has the damage to burst you down during its duration... but if she has that much damage, why does she have CC in the first place?
Her entire kit is a mess. Its so undefined that most people take to simply calling her an "AD Caster", which really doesn't fit considering that term generally refers to physical damage mage-like champions like Jayce, Urgot, and Ezreal. This AD Caster identity can't fit on a champion who, outside of her ultimate, is completely melee.
What Riven needs is to be given an identity and to be balanced to match said identity.