It seems that the company is looking to patch the Gear Sport watch as well. According to the changelog, the only updates the Tizen 126.96.36.199 firmware R600AXXU1ARG1/R600OXA1ARG1 offers are improved battery charging algorithm and stability and security fixes.
The security fixes are self-explanatory, while the battery charging algorithm means that users still having trouble charging the watch will no longer experience problems, but we are unsure whether the "stability" refers to the battery or to the software as a whole.
In any case, the update is important for the user experience and you should go to the Gear App on your smartphone to check if it's available for download.
Also, just the other day, Samsung unveiled the Galaxy Watch with Tizen 4.0 OS, so we are eager to see if the company will update its existing Gear lineup to the latest Tizen software as well.