Im currently on firmware 01.04.0602 with 4.1.3 on the app and noticed tonight when I connected to the drone I'm being prompted to update to 01.05.0300.  As much as I want the new pano feature Im not taking the chance that dji will manage to mess up my (almost) perfectly functioning drone lol.
My question is...Will I be restricted in distance/height if i don't update?
It's night and rainy here so i cant test.

no you won’t be restricted as long as your signed in to the DJI app.

Thanks...I might chance the update, I can roll back if I'm unhappy.

Hi there, logging in your DJI Account will get rid of the restriction. You can connect DJI Assistant 2 to check the firmware list.