The latest PUBG update is now available on Xbox One and PS4, though it's currently in its trial stages in the Public Test Server (PTS). According to the usual timeline of events, that means this patch should go live to the main game in a few weeks on consoles. It's already available on PC.
For console players, the marquee change comes by way of new crossplay options. Xbox and PlayStation players have long been able to kill each other in rounds of PUBG, but now they can actually join teams together using the in-game friends list similar to those seen in other crossplay-enabled games like Fortnite and Rocket League. If your squad is split between the two platforms, no worries. You can now load out and fight to survive as one cohesive unit, though current generation systems still demand that you use game chat - and thus risk blowing your cover - or use a third-party app like Discord to communicate more effectively, not to mention discreetly.
Along with that major change comes Team Deathmatch, rather ironically. The progenitor of battle royale has come back around to the type of PvP multiplayer it once defied so popularly. The new 8v8 mode doesn't replace battle royale, of course, and the recent addition of a fifth map means you still have new regiojs to discover no matter how you play PUBG these days.
The patch includes lots of smaller quality of life changes too. Better waypointing will now give you more detailed routes to markers left by you or your teammates on the game map, while the blue zone has been remodeled visually to not get in your way as much as it used to. Mind you, you'll still need to outrun it all the same. It's just some distortion effects that have disappeared.
A new Follow feature comes to the game's parachuting mechanics too, which we first saw in Apex Legends last year. This feature makes it easier to land with your squad in those crucial first moments of each round.
There are many more smaller bullet-pointed items diehard players will want to be aware of. The full patch notes can be found here. The patch is now available in the PTS and should hit the main game soon barring any setbacks.