Hi Prateek,
According to the Chromium code, it should be updated within 5 hours after your Chrome extension is made public on the Chrome Web Store.
See this source code:
extensions/common/constants.cc
In the archived Chrome update documentation it said this:
Every few hours, the browser checks whether any installed extensions or apps have an update URL. For each one, it makes a request to that URL looking for an update manifest XML file.
And in Microsoft Edge extension documentation (= same text as in Google Chrome web browser):
Every few hours, Microsoft Edge checks whether each installed extension or app has an update URL. To specify an update URL for your extension, use the update_url field in the manifest.
Note: You can force the update by going to the chrome://extensions page and enabling the developer mode toggle. And click on the Update button.
Thanks,