Updates are done through the balls of odin portal , Hold R3 while controller is disconnected and reconnect the cord while still holding R3 , you will see the lights change color.
i recommend updating if youre experiencing any issues or want to mess with your stick resolution as most of these will be solved.
current stick resolution options as of beta update v1.22
are 4 -12 bit. 12 bit feels amazing to me but im a high sensitivity player , mess with it till you find something comfortable. Resolution options can be found under the advanced tuning tab at the very top after youve updated.