Microsoft released the Windows 10 May 2020 Update a couple of weeks ago, but still, very few people have received it. This is for a couple of reasons, but one of them is because the company is going with a very slow, staged rollout. Today, the company updated the release status page to confirm that more people are getting offered the update.
The Redmond firm isn't nearly as aggressive as it used to be about forcing users to take feature updates. Once your PC is finally offered the update, you actually have to look in the Settings app to opt into taking it. If you don't check, it won't be downloaded. The only way that an automatic update will be applied to your PC is if the version of Windows 10 that you're on is nearing the end of support.
Of course, if you were looking for the update, you could still get it. Microsoft has its own tools, such as the Update Assistant and Media Creation Tool, that you can use to force the update. It's just that now, more people are getting the option through Windows Update.
The other reason that the Windows 10 May 2020 Update might not be offered to you is because it still has a ton of known issues. For those with things like old Nvidia drivers or Realtek Bluetooth adapters that need to connect to more than one device at the same time, the update will just be blocked.