Office 365 has several update channels which control when new versions of Office will be installed on the client

The default seems to be 6 months before new versions will be installed (Security updates will still take place)

This should not be changed for all clients however there might be cases where you'd like to have the newest version of Office installed as soon as it's available. 

To change the update channel use the commands below. You can use the chart below to select the correct channel. Current will set it to whatever is available at that time.

Launch a Command Prompt as an Administrator.
Navigate to “C:\Program Files\Common Files\Microsoft Shared\ClickToRun”
To change your setting type: “OfficeC2RClient.exe /changesetting Channel=Current”
To implement the change and start the Channel switch process, run “OfficeC2RClient.exe /update user” from the same path. This will initiate office updates download based on the channel you are switching to.

Update channels