The last major update for the Samsung Gear S3—Tizen 3.0, which rolled out in December of last year—was full of new features, but also took a bit of a hit on the Gear S3's excellent battery life. Samsung then halted the roll out and released a revised version that rectified the battery drain issues. Now, with things back to baseline, Samsung is rolling yet another update for the Gear S3 that aims at further improving battery life.
The latest Samsung Gear S3 update is currently rolling out in the US, Canada, and South Korea, SamMobile reports, with firmware version R760XXU2CRC3. Other regions should follow suit soon, although there's currently no information when. If you want to manually check whether an update is available for your Gear S3 smartwatch, you can do so by opening the Samsung Gear app on your phone and going to Settings > About Gear > Update Gear.
The official changelog for update R760XXU2CRC3 also mentions a "Bluetooth Connection Stability improvement," although it's not clear what this means at this point.