Product Update Forums as generic forums designed to give regular updates on the progress and status of the product and future product enhancements to a broad range of stakeholders.Typically hosted once a month (although adapt the cadence to your context) product update forums typically involve all your stakeholders as attendees.
Typically, I will turn this into a wiki page* where I can edit and keep a paper trail. I will then set aside 15 minutes to complete the wiki page in preparation for the meeting. Nothing exhaustive, just bullet points as prompts as you will discuss in the meeting.
Depending on the arrangement I have with the stakeholder I they may also edit the wiki page and add the points that they would like to cover directly to agenda. If not, I will create space at the start of the meeting to gather their input.
*a tool such as notion, confluence, etc depending on the tool of choice at your company.

Agenda:
- Welcome
- Review/Recap Previous Meeting
- PAST: Recent Wins / Challenges
- PRESENT: Current work and Challenges
- FUTURE: What's next for the team
- Key Points to Cover
- Actions