The Gear Live, Samsung's one and only Android Wear smartwatch, is beginning to receive an update to Android Wear 4.4W.2. The update brings a couple of new features, most of which have been present on Samsung's own Gear watches for quite some time. These include support for GPS (similar to the Gear S, which runs on Tizen), the ability to play music locally from the watch by pairing a Bluetooth headset (another feature the Gear and Gear 2 gained earlier), and an option to hide notifications on the watch face.
The update doesn't seem to be widely available yet, so you will need to wait before you can start enjoying those new features. Advanced users can download the OTA file and update manually, instructions for which are available here.