Even though the Samsung Galaxy S4 is almost two years old, it is still getting updates. Since this is the Google Play Edition variant, it is the first of all the GS4 models to get Lollipop.
This is just the 5.0 update, which the software itself point out with saying 5.0.0 instead of just 5.0. Since 5.0.1 was already released for other devices, it might be wise to wait until another future update. The update is close to 500 MB, so if you have this device and the update, make sure to do it over Wifi.