There's an OTA update rolling out to Google devices today, but what sort of holes have been patched? Now you canfind out with Google's latest security bulletin. Like the last few months, this one has multiple patch levels that you might see on devices going forward.
Google's Android security site details which vulnerabilities are patched in the 12-01 and 12-05 patch levels. The 12-01 level is smaller and only covers a number of high and moderate severity threats. The 12-05 patch level is where all the big, scary stuff is. Among other things, this one fixes half a dozen critical vulnerabilities in NVIDIA drivers, the kernel, and so on. Being on the 12-05 patch level means a device also has all the patches detailed in the 12-01 group.
Google devices like the Pixel should have the 12-05 patch level after getting the new OTA. Some non-Google devices might get updates later that only cover the 12-01 level, though.
Source: Android Security Bulletin