Quick answer: Nintendo's Switch 2 system update 23.5.0, released November 9, adds support for gifting eShop games to family group members and accessibility options in first-time setup. Dataminer OatmealDome says it also patches the OS exploit used by the recent jailbreak.
Nintendo released system update 23.5.0 for the Switch 2 on November 9, and the original Switch got a 23.5.0 update the same day.
The biggest addition is support for gifting Nintendo eShop products to members of your Nintendo Account family group. The patch notes say gifting turns on after an eShop update scheduled for November 17, while Nintendo's US announcement lists November 16. Eligible games, DLC and upgrade packs can be gifted. You tick Give as a Gift on the product page, pick a family member and which of their linked systems gets it, choose a gift wrap color and pay as usual. The gift is sent right away and shows up on the recipient's HOME Menu. Nintendo notes that some products won't be eligible, supervised accounts can't send gifts, and there's a limit on how many gifts you can buy in a given period.
The Switch 2 update also lets you set accessibility options during first-time setup, adds Portuguese (Portugal) to Text to Speech and to GameChat's Convert Text to Speech, and includes general fixes.
There's also a security change. Dataminer OatmealDome said on X that the OS exploit used in the recent Switch 2 jailbreak is patched in 23.5.0. The game entry points in SmileBASIC and Civilization VII still exist, but starting with this version it's no longer possible to escape the game, so homebrew is limited to what the game itself can do. According to OatmealDome, dumping and modding games won't be possible from here on, except possibly with some upcoming cartridge games and game updates. Notebookcheck adds that the patch is a major setback for the homebrew scene. Nintendo's patch notes don't mention the exploit.