Since the game is in active development, "Update 2" likely refers to the second major content expansion following the initial release.
Several scam sites are hosting fake “Divinity -Update 2-” downloads containing malware. Always verify the file hash from the Discord’s #update-announcements channel. The genuine 7z archive has SHA-256: A1B2C3... (check pinned post). Divinity -Update 2- By toasterkun
: It provides the high-quality particle effects and "god-like" aesthetic toasterkun is known for. Strategic Depth Since the game is in active development, "Update