Apple today released Rapid Security Response updates to patch iOS 16.5.1 and iPadOS 16.5.1. The updates fix a WebKit vulnerability that is being actively exploited. WebKit is the browser engine used on Safari which makes this an update that you should install right away. The process for installing the update remains the same as for a typical update: go to Settings > General > Software Update and follow the directions.
Apple releases a security patch for iOS and iPadOS 16.5.1 via its Rapid Security Response
The Rapid Security Response system was added to the iPhone and iPad with the releases of iOS 16 and iPadOS 16 last September.