Thanks DavidEngelMS, we are seeing the behaviour across Windows Server 2016 Standard, Windows Server 2019 Standard and Windows Server 2022 Standard, all x64, for Microsoft OLE DB Driver for SQL Server (ie 18).
Regarding Windows vs Microsoft Update, we are using Microsoft Endpoint Configuration Manager to deliver updates for Windows and other products. Curiously, we see the same host being offered the latest ODBC update, but not the OLE update. I have also attempted checking online against Microsoft Update manually, which yields the same result, ie, no ole update is offered.
Below is an example of the registry key and data as requested
Computer\HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Microsoft OLE DB Driver for SQL Server\CurrentVersion
LCID = 0x00000409 (1033)
PatchLevel = 18.6.7.0