It is not that:
ESET main GUI displays the time when the last update was released and installed.
So, when it says "Last update:10 hours ago" that means the update which was released 10 hours ago is installed, even though ESET checked for updates 5 min ago; when ESET checked 5 min ago, the update which was released 10 h ago was available.
This is confusing, because when you see "Last update 10h ago" you do not know if ESET did not update for 10 hours or the update is old, and you have to investigate further , opening different windows.
An elegant approach would be to get this info when you hover your mouse over the ESET icon in taskbar. Now when I do that I get the ESET version , which is not an info you need every day (in fact I never need it so far)