Earlier today on July 7, PS5 update 22.01-05.50.00 dropped. This update weighs in at just over 1GB in total, so hopefully won't take too long to download depending on your internet speed, but it doesn't actually do an awful lot to the PS5 itself.
For example, one of the headline features of the new PS5 update is that it "improves system performance." Outside of that though, the sole other feature of the new update is that it enables auto low latency mode on compatible TVs while you're playing games on the PS5.
If you're unfamiliar with auto low latency mode, it basically attempts to smooth out a game you're playing to compensate for any input lag. So if you were experiencing any lag issues with your TV while playing games on your PS5, this update is good news for you, as your games will look a whole lot smoother without any significant visual sacrifices.
This is a relatively small update, and in fact, it's the first update the PS5 has received in over a month. Just earlier this year in April, a bigger PS5 update made Trophy hunting significantly easier, as well as added Ukrainian language support. Before that in March, another update finally enabled users to control their PS5 using only their voice, a big win for accessibility.
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Related Forum: PlayStation Forum
Source: https://www.gamesradar.com/ps5-update-22.01-05.50.00/
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