The HTC One for Verizon is receiving its first software update, which brings a few new features, improvements and enhancements to the device. The update is being offered OTA (over-the-air) and can be initiated when you receive the notification. If you have not seen the notification you can alternatively check for the update under Settings on your device.The new software which brings version 1.10.605.10, aims to reduce the lock-ups and freezes which sometimes occur on your device. There is also a new internet accessibility mode for the visually impaired. Verizon's chosen NFC payment platform ISIS Mobile Wallet is getting an update in this software as well, but Verizon isn't saying what that changes.
If you have not received a notification for the update and still do not see it under Settings on your device, its best to give it a day or two for it to reach your device.
source - Verizon | Android Police