Alongside the macOS Ventura 13.3 update, Apple has released new 16.4 firmware that's designed for the Studio Display. 

The Studio Display firmware can be updated by connecting it to a Mac. Studio Display owners can go to System Preferences > Software Update to install the firmware.

According to Apple's release notes, the Studio Display Firmware Update 16.4 adds support for in-field recalibration of the display using the Pro Display Calibrator. It allows for specific color workflows that may require custom calibration by an in-house spectroradiometer. The update also includes minor stability improvements.