These updates fix bugs/errata that can cause anything from incorrect processing, to code and data corruption, and system lockups.
It is very difficult to know for sure whether you need a microcode update or not, but it is not safe at all to just ignore them.
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This book contains many real life examples derived from the author's experience as a Linux system and network administrator, trainer and consultant.
The BIOS (or UEFI) updates the CPU microcode during boot, however most of the time either the motherboard vendor won't issue frequent BIOS/UEFI updates, or the user won't install such updates.
If there is no other way...why Intel does not make his processors on such a way the a bios automatically get updated after powerup the motherboard or use old microcodeto be able to update a bios.
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KVM guests must not be allowed to update the host CPU microcode.
KVM does not allows this and instead always returns the same microcode revision or patch level value to the guest.