The game has minor patches all the time, but this is the first really big one since last October. The full details are here:https://treeofsavior.com/news/?n=874
One major new feature is hunting grounds, which is new zones designed purely for farming rather than questing. There will be such zones added with recommended levels of 100, 150, 170, 190, 210, 230, and 240. Nothing above 240, though, as compared to a level cap of 330, so this clearly isn't regarded as endgame content.
Another is item identification, which is new pieces of five and six star gear that start out unidentified. Apparently identification can cause the gear to have more sockets than normal gear. No clue whether the gear will be good enough to be useful. As this is only for five and six star gear (required level 120 or 170), as compared to a max of nine stars (required level 315), they clearly don't regard this as endgame gear.
A third new feature is Hethran badge quests. These are quests with required levels of 260 or 300, and you have to use some special drop to get access. It sounds like this might be the new high-level "dungeons", though I'm not sure.
Instanced dungeons get a major overhaul, too. Three dungeons are removed entirely, and most of the rest had their levels changed. There will now be a new dungeon every 30 levels, still starting at 50, and now going up to 260. Drops from the removed dungeons will be available in other dungeons instead.
There are a ton of bug fixes and minor tweaks. Many classes had some little thing fixed. Cannoneer, Monk, Barbarian, and Rune Caster got some major buffs, while Psychokino, Cryomancer, Doppelsoeldner, Kabbalist, Corsair, Elementalist, and Wugushi got what looks to me like smaller buffs. Most other classes that got changes are just bug fixes. Not that all bug fixes are small:
"Using this skill will no longer cause the channel to crash."