The patch notes mention "general stability and security improvements." In typical Bethesda fashion, this is code for "we fixed crashes that happened when you looked at a door funny." The game is notably less prone to random CTDs (Crash to Desktop), particularly when saving or loading in heavily modded areas.
We cannot talk about a Fallout 4 update without addressing mods. For many, mods are Fallout 4. fallout 4 patch 110163 better
Critical fact: After updating to 1.10.163, your old F4SE will not work. You must download F4SE version 0.6.21 (or later for that build). The patch notes mention "general stability and security
Popular F4SE-dependent mods that required updates for 1.10.163: We cannot talk about a Fallout 4 update
⚠️ If a mod author abandoned their F4SE plugin before 1.10.163, that mod is dead unless someone else forks it.