The Open Beta program at OnePlus is one in which any user can install a preview version of the next OxygenOS (OOS) build for their device (provided it is of a newer series). These updates often contain experimental features, on which the participants can offer feedback. Now, they have been extended to the 7T and 7T Pro.
This update (Open Beta 1 for the series in question) does offer new RAM management optimizations, improved content for the devices' settings and - for the first time in these phones' history - Google's Live Captions feature. However, the security patch could be equally up to date: it is at the February 2020 level in this update.
Then again, the latest stable OOS versions for the 7T and 7T Pro is set at January 2020. Interested users can convert to these new Open Betas on their dedicated page on OnePlus' community website. However, they are advised to follow the instructions found there closely, particularly as there are different versions of this ROM depending on the region to which a given unit belongs (EU, Global or India).
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