p.1 #4 · Best firmware for R5 mark II and cold weather
Of course the firmware does not slow the rate of the battery losing power during cold weather, but it could allow the camera to function at lower power levels. It's pretty well understood than the camera is the issue.
p.1 #5 · Best firmware for R5 mark II and cold weather
It could change the draw on the battery when not actually taking a picture. It could turn off certain functions at lower temperatures, it could allow the camera to run at lower measured power levels. There does seem to be some variation from the discussions. It also seems questionable as to how good a job it does in actually measuring the battery power level.