The reason for no longer releasing updates to older consoles is it has become impossible for the technology of the older consoles to support it. Rockstar Games has said last December that some updates would be impossible to release for older consoles and that they would do all they could for as long as possible.
A statement provided to Kotaku UK:
"As we mentioned previously, we always knew there might be a point where we would reach the technical capacity of what the older generation of consoles can handle as each downloadable update requires additional memory both for assets and for additional scripting. We have continued to optimize the entire game over time in order to squeeze as much memory as we possibly could out of the last-generation hardware and at some point, continuing to add content for those systems could cause the risk of instability to the game overall."
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