The last update, caused some users bad battery life, which is now fixed in this update. Still, it remains to be seen what kind of improvement the update will have for battery life. Well, Samsung Gear S3 users is not in mood of any practice this time.
The build version for this update is R760XXU2CRC3. The size of update is 39MB. If you have Gear S3, you can check for update by going into, About Gear > Update Gear software in the Settings.