A security patch
A security patch is quick fix for vulnerability in software that either is being exploited in the wild or can be exploited. A security issue may have different levels of impact and complexity, it will influence how fast a fix needs to be applied. Also a vulnerability may be already being exploited, and software already exists to use such a vulnerability. This exploit is called "in the wild". Vulnerabilities with high risk of being exploited and can cause a lot of harm need to be fixed as soon as possible or mitigation needs to be put in place to prevent such vulnerabilities of being exploited ASAP.
For example a vulnerably may exist in Windows NetBIOS API that was popular, but if such traffic is restricted by firewall, than mitigation measures are already in place, and there is no rush to install such fix. This fix needs to be still be installed, but there is no rush, such an exploit maybe used from inside.
Patches can either be individual patches, that only fix a specific issue, or multiple patches can be grouped together. Usually a collection of patches is released much later, after significant level of testing is done.
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