Fast updates even if it's less content as it also ensures me that developers are actually working on the updates and not constantly delaying them for supposedly not being able to finish
Slow update with plenty of content but realistically I prefer consistent updates on a schedule so you know roughly when to expect it takes away some of the threat of another game being abandoned.
I dislike seeing updates being released without any kind of changelog, or one that does not tell you much about the content that was added/changed/removed. For instance, what good is waiting 4 months for an update if it was just a script fix for a route you do not even (want to) play?
More content is always better. I don't give two shits about Pong being updated if it means less friction on the paddle in one part of the upper Y axis.
In reality I don't mind a wait with a decent amount. What I don't like though is 6month+ wait between updates and then being dissapointed in the quantity.
Normal update with a normal amount of content proportional with the wait.
Also I really like it when the dev update it with a fixed time interval between update or just openly tell the player when they're gonna update it.