You're eligible to receive new features as soon as they're available, but you're currently only receiving new features every six months.
New features
Switch Office themes automatically
Office can automatically switch themes to match your Windows 10 theme settings. Go to File > Account and choose Use system setting under the Office Theme drop-down
One Click writing suggestions, right in Word
Apply writing suggestions with a single click. The updated Editor pane makes it easy to navigate between suggestions.
More info
When you update to the latest build you'll see the following prompt. Select Yes to update to Current Channel.