Summary
iOS 16.3.1 is available for iPhone 8 and later, iPad Pro, iPad Air 3rd generation and later, iPad 5th generation and later, and iPad mini 5th generation and later.
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It includes a security update to address an issue related to an app being able to execute arbitrary code with kernel privileges, and an issue related to processing maliciously crafted web content which may lead to arbitrary code execution.
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Users should update their iPhone to iOS 16.3.1 by heading to the Settings app, choosing General, then choosing Software Update.
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The build number for this update is 20D67.
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According to