Updates for OOS are generally released every month. This is the latest update:
latest security updates for OOS
sns
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latest security updates for OOS
what is the latest security updates for OOS
we have done for july 2020 not done any anthing after that. please suggest
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Trevor Seward 11,701 Reputation points
2021-02-25T22:26:07.97+00:00 Microsoft documents the update strategy at Apply software updates to Office Online Server. I have written a script based on this which you can find at AWACPM.
As far as memory consumption, I haven't seen any issues myself.
And as far as applicability, if you haven't updated to Feb 2021, yes you should be able to apply it given the base was installed with the November 2018 ISO.