This specific update is known for being a major "performance and graphics" patch that introduced several key features to the Switch version:
Summary
Without this update, players cannot access online multiplayer (as the servers demand version parity), and custom livery loading times exceed 15 seconds. With it, loading times drop to approximately 8 seconds.
: Added a "Performance" mode (60 FPS), a "Graphics" mode (higher resolution/details), and a "Battery Saver" mode.
: 8/10