Apple has released the iOS 7.0.5 for certain devices only. The update is available for the iPhone 5S and the iPhone 5c mainly, and it was meant to correct network provisioning for models that are available for sale in China.
As it appears on the official change log, the update “corrects network provisioning for some iPhone 5S and iPhone 5C models sold in China”. The network provisioning issues were not that serious, but due to the amount of devices affected by this problem, Apple has considered releasing an update to solve these problems.
The update is only 35.4 MB, which means that is not particularly a large update, and in the case of users owning a different device rather than the iPhone 5S and the iPhone 5c, then, there is no need for your install it.
In the same time, since the official changelog has been rather short and concise, we still do not know whether if the update hides something, such as a fix for the jailbreak exploits. As you can see, it was meant only for the Chinese versions of the two mentioned devices, but it can also contain some other minor tweaks and fixes.
It is important to note the fact that, since the iOS 7.1 beta 4 has patches Evasi0n7 exploits partially and the fifth beta version brings even more exploit patches, it is unclear whether the just released iOS 7.0.5 includes the full Evasi0n7 jailbreak patch. In case you are jailbroken, make sure that there is a jailbreak available before you decide to upgrade your device.
In case you want to update to iOS 7.0.5 anyway, you can head over the iTunes service, or you can choose the OTA feature found under Settings right on your device. In the same time, bellow you have the official iOS 7.0.5 download links, made available officially from Apple.
iOS 7.0.5 Download Links