The patch will fix multiple quest bugs and introduce several quality-of-life changes like monster crowd control adjustments. After the initial patch notes release, Community Manager SinfulScribe has clarified in a Reddit thread that the update will be released next Tuesday morning:
Patch 1.1.3 will go live on August 29, at 10 a.m. PDT. We’re updating the article to mention this.
Diablo 4 Patch 1.1.3 Patch Notes Diablo 4 Gamescom Interview
Earlier this week, Blizzard revealed Diablo 4’s second season during Gamescom Opening Night, Season of Blood, which will release on October 17.