Apple has issued beta firmware for the Studio Display, an update that brings the software of the monitor up to version 16.4.
Apple Studio Display
Surfacing late on Friday, users of the macOS Ventura 13.3 beta are now able to install an update to a connected Studio Display. The beta firmware only applies to Mac users who are using the beta of macOS Ventura 13.3, not non-beta versions.
Beta users who own a Studio Display can refresh the firmware to the beta edition by going to System Settings on their Mac then Software Update to check that it is available and can be installed.
At the time of publication, Apple hasn't detailed exactly what is in the firmware beta, except that it is for version 16.4 of the software running the display, and that it is 641.4MB in size.
It is plausible that the firmware beta handles bug or security fixes, increasing compatibility with the newest Apple releases, and possibly performance improvements.
Apple's previous firmware update for the Studio Display was version 15.5, which landed in August 2022. That firmware fixed speaker issues, with sound occasionally failing for some users.