Crucially, this update weighs in at approximately compressed (expanding to ~5.1 GB). It replaces several core .exe files, DLLs related to upscaling technologies, and the game's core asset archives for Midgard and Svartalfheim.
Download and extract the update archive. If prompted for a password, it is often related to the source site (e.g., Backup Executable: God of War Ragnarok Update v1 0 622 6666-RUNE