To download the new software, you can head to General > Software Update on an Apple Watch.

Your watch needs to have more than 50 percent power and connected to a charger. Like most Apple Watch updates, it could take anywhere from 30 minutes to an hour to complete, so be patient.

According to the release notes, the update offers an important security fix. Apple also fixed the same issues with the release of iOS 14.7.1 earlier this week.