Your iPhone and Apple Watch are getting software updates today, care of iOS 12.4 and watchOS 5.3, which may be the last changes before iOS 13 and watchOS 6.
The official release notes for iOS 12.4 suggest this is an incremental update, with the one standout feature: the return of Walkie Talkie functionality on the Apple Watch.
Apple disabled the Walkie Talkie feature earlier this month due to an eavesdropping vulnerability, while noting that no one actually took advantage of the security flaw.