Apple has released a firmware update 7E99 for AirPods Max, adding support for 24-bit / 48 kHz Lossless Audio and reduced latency. The update is only available for models with USB-C. Lossless audio can be played through USB.
The improvements include personalized spatial sound, compatibility with Logic Pro and other music applications, minimum latency for games and broadcasts. The hearing aid feature is supported in new regions (excluding Russia).
To update AirPods Max, they must be within Bluetooth range, the main device needs to be connected to Wi-Fi. Place the headphones in the charging case and close the lid for 30 minutes to install the firmware. After that, open the lid to reconnect the AirPods Max to the main device. The firmware version can be checked in the settings of iPhone/iPad/Mac; it should be 7E99.