Microsoft has indeed released another new version of its well known launcher as a beta for testing. The Microsoft Launcher 5.11.4.56354 has a few changes with it.
Who is as of now analyzer who gets the update by means of OTA (over-the-air) offered, all others must be in the beta sign up , after which they can download and install them.
Now there are some functions that were there before, but were later removed from the launcher by the development team. Now it is again possible to hide apps from the app drawer and to show hidden apps again. Widgets from the feed can now be summarized on a new homepage.
If you like it a little more experimental, there is also a Microsoft Launcher Preview. There are more future features included, here you are even at version 6.2.200401.75969. But this is still a playground for the developers.