Hi Moses,
When there is a new release from Nutanix(AOS,AHV) then you will be notified over the email from support-automation@nutanix.com , additionally you can find the available updates/upgrades on the Upgrade window.
Firmware is something depends upon the Hardware vendor , you can use LCM feature to view latest firmware and upgrade
Is there a regular patching schedule?
Nutanix has 2 mode of releases
LTS(Long Term support) -which are maintained for a longer duration and provide primarily bug fixes for an extended period of time on a particular release family.
Release Cadence -12 to 15 months
STS(Short Term support) - Short Term Support (STS) releases, which have new features, and also provide a regular upgrade path
Release Cadence - 3 to 6 months
Refer to link for more details : Long Term Support (LTS) and Short Term Support (STS) Releases (Applicable only to AOS)
Thank you. This is very helpful