Apple today released a new tvOS 16.3.1 and HomePod 16.3.1 software update, two weeks after the release of tvOS 16.3 and HomePod 16.3 updates.
According to Apple’s update notes for HomePod 16.3.1, the update includes overall performance and stability improvements. tvOS 16.3.1 update notes are not yet available but are likely similar to those for HomePod 16.3.1.
The tvOS 16.3.1 update is available through the Settings app on Apple TV by going to System > Software Update and doing an OTA update. Apple TV users who turn on automatic software updates will automatically be updated to tvOS 16.3.1.
HomePod updates are automatically installed on HomePod unless this feature is disabled, or you can update HomePod manually in the Home app.