Microsoft announced the Surface Hub 2S back in September 2020, it came with Windows 10 Team, the OS that runs on Surface Hub devices. The company initially stated that it would receive the Windows 10 Team 2020 Update - which had been in preview since July 2020 - in October 2020, but later paused the update for various channels and updated its rollout plans.
It is important to note that Windows 10 Team 2020 Update is based on Windows 10 version 20H2, and since the SKU does not receive major updates often, most existing devices were stuck on version 1703, which was well over three years old at that point. Phased rollout began again for Surface Hub 2S devices in February 2021 with Microsoft announcing that the original Surface Hub will also receive the update. Then in March, Microsoft throttled the rollout again citing issues being faced by many organizations. During this time, version 1703 actually ran out of support, resulting in clients owning Surface Hub devices being stuck in a very tricky spot. Seriously, it's been a mess so far.
Today, Microsoft has announced that "Windows 10 Team 2020 Update 1" is finally available for all Surface Hub devices. To be clear, this includes the 55- and 84-inch models of the Surface Hub as well as the Surface Hub 2S. Devices will automatically receive the update via Windows Update, which is usually scheduled to run during nightly maintenance cycles.
Windows 10 Team 2020 Update 1 contains a bunch of new deployment and management capabilities and security enhancements, and you can view them in detail here. According to Microsoft though, the highlights of this release are that it replaces the default browser on Surface Hub with the "new Microsoft Edge" and some UI improvements which include the fact that the welcome screen's background image will also function as the home screen’s background image to keep a consistent aesthetic.
As previously stated, your organization can configure Windows Update to receive Windows 10 Team 2020 Update 1 on your Surface Hub family of devices. Fingers crossed that Microsoft doesn't throttle the rollout again.