Update Now
The update may take a while to download and install. Just like any other macOS update, this one can go beyond 3GB in size. It should become pretty obvious at this point that even if Apple is fixing a small typo in its OS, the update is going to be massive for no reason at all.
Nonetheless, before that cheap hub or dongle kills your MacBook Pro or MacBook Air, it is highly recommended that you go ahead and update to the latest Big Sur release. It should become clear at this point that cheaply made and non-USB-C-compliant products should be avoided at all costs as they can cause damage to your precious investment.