Can you be more specific? Are you asking if there will be a software update at all or are you asking for an update on the progress towards said software update? Either way you slice it, the answer is yes.
Version 5.0 is still under active development and testing. More information will be shared regarding the new features it offers as we get closer to finalizing the release date.
"A bird does not sing because it has an answer. It sings because it has a song."