The new update mainly brings stability improvements as well a fix for lock-screen bypass bug that was reported for the smartphone some days ago. The update size is around 50MB and you will get a notification on your Galaxy Note 2 to update the device.
As most software updates are released in batches, not everyone gets them right-away and it can take a few days to reach everyone. You can however check for the update manually by going to Settings << About Phone << Software Update << Update.
- Software update build number: XXDMC3
If you have already installed the update, do let us know about anything new that you would have noticed in it.
Thanks @TheAngrez | Image Credit: kkapoorr at XDA