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Apple Seeds First Beta of macOS Sierra 10.12.5 to Developers
macOS Sierra 10.12.5 can be downloaded through the Apple Developer Center or through the Software Update mechanism in the Mac App Store.
Apple's release notes don't often provide much insight into what's included in new beta software, so we don't yet know what features it might offer. As the update follows the release of 10.12.4, which was a major update, this one may focus primarily on bug fixes and other small improvements.
The release notes accompanying the beta release say only that the "update improves the stability, compatibility, and security of your Mac." Should any new features be found in macOS Sierra 10.12.5, we'll update this post.