Component updates, code examples and new device drivers are delivered using Web Content Delivery in PSoC Creator 4.2. Downloadable in Component Update Tool means that the specified version of component is available online for the user. It can be downloaded and added to the PSoC Creator project.
Please select the required component version in New Version column and click Next > Finish > Archive/Cancel. The component will be downloaded in the system. Later, build the project. Go to section Component Update in PSoC Creator User Guide for more details.