The phrase "to release the update" means making the newest version or improvements of something public and available for people to use or access. Full definition
The developers have just released an update for tablet optimization as well. (droidgamers.com)
The company releases an updated version of the algorithm to lenders every few years. (valuepenguin.com)
For seven years, the four organizations have released updates on the progress and the challenges in increasing graduation rates across the nation. (neatoday.org)