AirPods Max are wireless Bluetooth over-ear headphones designed by Apple, and released on December 15, 2020. They are Apple's highest-end option in the AirPods lineup, sold alongside the base model AirPods and mid-range AirPods Pro. From Wikipedia
The update, exclusive to USB-C models, likely includes performance improvements and bug fixes, following earlier firmware enabling lossless audio and ultra-low latency.