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Apple has some serious updates. So much so that you should install the update now! This is for Apple iOS 16 compatible devices, iPhone 8 and newer (as below).

The table below shows the recent updates and how they apply.

Here is a link to the release notes: https://support.apple.com/en-us/HT213407#1612.

Apple’s iOS 16.3.1 security page discloses that the update contains just two security patches – but very serious ones.

Apple security updates

Name and information link Available for Release date
macOS Big Sur 11.7.4
This update has no published CVE entries.
macOS Big Sur 15 Feb 2023
Safari 16.3 macOS Big Sur and macOS Monterey 13 Feb 2023
iOS 16.3.1 and iPadOS 16.3.1 iPhone 8 and later, iPad Pro (all models), iPad Air 3rd generation and later, iPad 5th generation and later, and iPad mini 5th generation and later 13 Feb 2023
macOS 13.2.1 macOS Ventura 13 Feb 2023
tvOS 16.3.2 (details available soon) Apple TV 4K (all models) and Apple TV HD 13 Feb 2023
watchOS 9.3.1 (details available soon) Apple Watch Series 4 and later 13 Feb 2023

For a good report, read this: Apple iOS 16.3.1 Release: Should You Upgrade? (forbes.com)