Casual abbreviation of アップデート, used mainly in informal speech, online, and among tech-savvy speakers.
See also: アップデート
The app update still hasn't finished.
I updated the game to the latest version.
The latest update fixed the bug.
It seems a new update is coming out tomorrow.
The dev team released an emergency update.
The bug fix apparently has to wait for the next update.
In everyday speech, software updates are often counted as occurrences/instances rather than with a dedicated object counter.
Clipping of アップデート, from English 'update'.