The update comes with latest June 2017 Security patch, New System icons, Duo Video calling application and other Android 7.1.1 goodies. The build number after the update is NPI26.48-8 and it weighs in at around 638MB.
For now, the update is reportedly rolling out in phases for a few Moto G4 Play users in Brazil.This means that the Android 7.1.1 Nougat won't be coming to all devices at once, but selected users will get the update.
If you haven't got the notification of this new software update yet, Just go to Settings - About Phone - Software updates, and It will automatically start downloading the latest update. The update will take around 10-15 minutes to get Installed on your device