A new update is hitting Verizon LG V20 units across the States. The software upgrade contains the Android security patch for the month of July and should bump the build number of your device to VS99515A.
The July patch addresses a number of Common Vulnerabilities and Exposures (CVEs), the most severe of which is related to a media framework vulnerability that could enable a remote attacker using a specially crafted file to execute arbitrary code within the context of a privileged process.
The update is available OTA, but it might need some time to reach all compatible devices. You can check for it manually by going to Settings > About Device > System Updates. As always, make sure that your phone is sufficiently charged and connected to a Wi-Fi network before proceeding with the patch.