Now that we are in the month of May (my, how fast time flies!), Google has remained alert by making available the May 2017 Android security update for its flagship Pixel and Pixel XL smartphones, in addition to a slew of other Nexus hardware. There is nothing out of the ordinary here as Google has put the update up for download in factory image form as well as OTA (Over The Air) form. It will handle a couple of security patch level strings, 2017-05-01 (which happens to be a partial security update for existing and known issues) in addition to 2017-05-05 (which happens to be the entire security patch for the month of May). If you are interested in downloading them, you can get the factory image form here, while the OTA form can be found here.
Just what is being fixed or patched up with the latest security updates? Google claims that the most pressing issue that has been fixed in this newest security patch would be a security vulnerability that might be exploited by those with less than desirable intentions, in order to facilitate a remote code execution. By doing so, it might have future negative ramifications on email, web browsing, and MMS, especially when one works with media files on Android devices that have yet to be patched. Google has not seen any reports concerning users being negatively affected by this exploit, but it is better to be safe than sorry.
There are different versions of Google Pixel XL available, and this security patch will address the myriad of versions -- N2G47O, N2G47T, and NHG47L whihc run on Android 7.1.2 Nougat. The same applies to the various versions of the Google Pixel (such as the N2G47O, N2G47, and NHG47L) which too, runs on Android 7.1.2 Nougat. As for the Pixel C (N2G47O) tablet that has Android 7.1.2 Nougat running on it, that too, will be fixed. The well aged Nexus 5X (N2G47O) on Android 7.1.2 Nougat, the venerable Nexus 6 (N6F27C) on Android 7.1.1 Nougat, the Nexus Player (N2G47R) on Android 7.1.2 Nougat, the Nexus 9 LTE (N4F27B) on Android 7.1.1 Nougat, and the Nexus 9 Wi-Fi (N4F27B) on Android 7.1.1 Nougat, all of these will be patched up as well after installing the latest security update.
It is nice to see Google stick to a timely monthly release for these new security updates, as it ensures the optimal running of compatible Android-powered devices for users who will then have one less thing to worry about. Do take note that the factory image as well as OTA versions of the update will require the user to perform a manual update. If you go ahead with the factory image update, your device will be wiped clean as a fresh version of Android will be installed, while OTA updates will see similar benefits without the risk of you losing your data. Alternatively, if you are not in a rush, you can always wait for the update to arrive on its own sweet time, where you will then be prompted to proceed.