Today, Microsoft announced that the Xbox One 1902 update is being promoted to the Preview Omega ring. If you're unfamiliar with Preview Omega, it's the equivalent to Windows Insider's Release Preview ring, as it's dedicated to updates that are slated for rollout to the public. That means that barring any unforeseen bugs or incidents, the public release of 1902 is imminent.
Xbox One version 1902 doesn't really have much in the way of new features. It's mainly about fixes and improvements. For new features, you'll have to wait until version 1904, which is currently in preview in the Alpha ring. 1904 is from the 19H1 development branch, so it's a major update that coincides with the next feature update for Windows 10.
Those on the Alpha ring are also getting a build tonight, although it doesn't bring any new front-facing features. Features already presented in Xbox One version 1904 include a new mini keyboard that's designed to float around textboxes, and programmable buttons for the Xbox One Media Remote.
As for version 1902, with it coming to the Omega ring today, we can expect to see it available to the public within the next couple of weeks.