GPS version 5.50 (!)

Same here, solved as follows: after the (software) update, from the watch menu -> system -> check for updates, a GPS update was available. Seems like both (SW 12.00 and GPS) are considered as separate updates. 

Maybe garmin connect needs first to sync, download this 2nd update and push it to the watch ?

Could be a matter of just waiting - in any case it happened in two steps on my side (... and maybe 3 as the sensor hub is still 18.00)

I´ve got the same problem.

It worked for me. Thanks 

It worked. Thanks buddy.

Thanks, it worked via GE, and GPS is up-to-date now. I don't understand why an update via GC is incomplete...