Actually, they are all correct. Update accepts different prepositions adn it really depends on what is being updated. "On" is the most usual, it means there's new information:
Here is an update on the issue that I brought up last week. -> I'm going to tell you something new about this, new information.
While the rest of the prepositions usually refer to a physical, detectable update:
Here is an update of the report for your reference. -> There is a new report.
Also: An update for/to the software, an update for Jessica.