Verizon had released the Android 5.1.1 update last month to Galaxy Note 4 units on its network. Now, the carrier has started rolling out a new software update, which bumps up the software version on the Galaxy Note 4 to LMY47X.N910VVRU2BPA1, but the Android version stays at 5.1.1 (Lollipop).
This update optimises device performance, fixes known bugs, and applies latest security patches. The update should hit Verizon's Galaxy Note 4 (SM-N910V) shortly, but if you are feeling impatient, you can manually check for the update by visiting the settings menu on the device.