Here is the list of what all was patched in this release. In total, there were six CVE's addressed in this update.
The BlackBerry Priv is now receiving its February security patch. At this time, it is not clear exactly what has been patched or changed with this build, though we expect Google to reveal details about the update shortly. BlackBerry has done an excellent job so far in pushing timely security patches to the Priv. The update is pushing out now, and will likely hit unlocked smartphones purchased from ShopBlackBerry, then carrier variants.
If you own a Priv and are not yet seeing the update, you can check manually by heading into your Settings, About phone and checking for it there.