The EOS R5 firmware update 1.4.0 is set to launch on August 19th. Canon R3 watchers may sit up and pay attention on that date. Canon firmware update schedules have been quite fudgy since the camera launched. Executives first indicated a roughly monthly update expectation, but development reality has set in, with quarterly updates and delays becoming the norm.
CanonWatch observantly noted that a recent Digital Photo Professional update release included references to the as-yet released firmware.
When Canon releases a new camera that adds new software capabilities, it will sometimes provide a firmware update for legacy bodies that can also take advantage of the new features. The delay in this firmware release could theoretically follow the delay of the Canon R3 release, which was expected prior to the Olympics, but is now expected after the Olympics. The apparent pushing out of the R3 announcement followed a Canon announcement that it would prioritize supply to the Olympics shooters first.
While R3 watchers may get hopes up, the likeliest explanation to the firmware delays may be simply that making software is hard.