Updating MacOS through recovery

On a M1 Mac, if I go into recovery mode and choose the reinstall macOS option, does it reinstall the same version as I have now or does it update to the latest build? Apple support page says “On a Mac with Apple silicon, Recovery installs the current version of the most recently installed macOS.” .. but I’m getting confused between “current version” and “most recently installed”. Today, If I’m on 15.1, will it (re)install 15.1 or 15.2? Is it possible to do a “full” (non-OTA) MacOS update without wiping data? (Trying to quash some bugs and hoping a proper/ full install will do that before I try to wipe and go the DFU/IPSW way.)