The update, which brings the PS5 up to version 21.01-03.20.00 (just rolls off the tongue!) makes a short list of changes, as detailed on the PlayStation website:
This system software update improves system performance. We’ve updated the DualSense wireless controller device software to improve stability. We’ve fixed an issue that restricted the functionality of some screens when the screen reader was enabled. We’ve fixed an issue where games that you’ve hidden on PS4 were not hidden on PS5. We’ve made the process of copying games from USB extended storage to console storage in the game library more stable.
Of note is the update to the DualSense controller. Sony said it improves stability, which isn’t particularly helpful. Redditor Heymodspleasehelp noticed a controller battery indicator bug was now fixed. “It was at zero percent before I updated now it’s at two bars,” they said.