The latest release of the Ionic CLI, version 5.0.0, introduces several significant updates, including beta support for Ionic React, which allows developers to create applications using React within the Ionic framework. To update to this version, developers must have NodeJS version 10 installed and can upgrade the Ionic CLI via npm along with additional tools like Cordova Resources and Native Run, which facilitate local resource generation and app deployment to devices. The new version also sets localhost as the default host for various commands and introduces a required flag for using DevApp. The community has actively contributed to the development of Ionic React, and the Ionic team encourages developers to explore the beta, which offers starter templates for various app types. Official documentation is forthcoming, but those interested in trying Ionic React should be familiar with React's fundamentals.