Microsoft has begun to roll out the cumulative update (KB3118754) for Windows 10, bringing the OS version up to 10586.11. The update applies to any Windows 10 PC that has been upgraded to the November Update, which rolled out a week ago.
In the release notes, Microsoft points out that the update includes improvements to enhance the functionality of that release:
This update includes improvements to enhance the functionality of Windows 10 Version 1511.
Windows 10 Version 1511 updates are cumulative. Therefore, this package contains all previously-released fixes (see 3105211). If you have installed previous updates, only the new fixes that are contained in this package will be downloaded and installed to your computer.
The update can be applied in two different ways; either waiting for the download to automatically show up in the Update settings, or by going to the Microsoft Update Catalog website and manually installing it. The update requires a restart of the PC, so ensure you can set aside a few minutes to apply it.
Microsoft explicitly notes in the changelog that, “this update replaces the previously released update 3105211.”
By the way, for those of you who keenly follow Microsoft build numbers, WinSuperSite's Richard Hay pointed out that this latest update means that the Windows 10 PC, Mobile and Xbox One releases all share the same build number for the first time.