Apple is said to be working on an iOS 16.3.1 update for the iPhone, according to MacRumors. The update will likely be available sometime this month.
Small changes like iOS 16.3.1 are typically devoted to bug fixes, stability improvements, and security patches.
As we await iOS 16.4, there are several previously-announced iOS features that haven't yet shown up, including Apple Pay Later, an Apple Card savings account option for Daily Cash, and more.
In recent weeks, MacRumors claims to have seen both iOS 16.4 and iOS 17 in its website's analytics logs. iOS 17 is scheduled to be unveiled at WWDC in June.