If I go to the software update pages I can find on this site, I'm finding different software and different versions:
There's a direct updater 1.7.0, and an H9 control app 3.5.2.
So what? Where's the 5.0.1? Or is it another thing? Where to find information about this version? And what should I use to update: the direct updater or the h9 control app? Really confusing, at least to me.
You may use either Direct Updater or H9 Control app to update your TimeFactor.
If you have H9 Control installed on your Mac/PC, please connect it to your TimeFactor via a USB cable. And go to "Pedal Settings" -> "Update Stompbox's software", then it will lead you to Direct Updater to update your TimeFactor. In Direct Updater you may see a list of software with different version numbers that you can upgrade to.
Let us know if you have further questions.