Apple today released Apple TV Software Update 5.0.2.
What, if anything beyond bug fixes, is new is not yet known as Apple’s online document which explains Apple TV Software changes has not yet been updated.
To update your Apple TV to the current software version:
1. Select Settings > General > Update Software. Apple TV checks to see if an update is available and a download message should appear if an update is available.
2. Click Download and Install to start the download process.
Important: Do not disconnect your Apple TV during the update process. The Apple TV status light may flash slowly during the update and restart process; this is expected behavior.
During the update process, your Apple TV may restart, then display one or two Apple logos and status bars, depending on which Apple TV you have.