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Hello guys, I just got an LG BE14NU40 external burner and here is the output:
Drive Information
OS device name: G:
Manufacturer: HL-DT-ST
Product: BD-RE BE14NU40
Revision: 1.01
Serial number: K99FCJF1919
Firmware date: 2114-06-25 14:41
Bus encryption flags: 1F

LibreDrive Information
Status: Enabled
Drive platform: MT1939
Firmware type: Original (unpatched)
Firmware version: 1.01
DVD all regions: Yes
BD raw data read: Yes
BD raw metadata read: Partial
Unrestricted read speed: Yes

No disc inserted

Question is, do I need to do anything further? Like a firmware update? What kind of discs can this drive rip? I heard it is not possible to rip UHD?

No leave it you are already getting the most out of it you can

That bit means the internals of your drive are an older platform that isn't capable of ripping UHDs. It'll probably rip DVDs and Blu-rays however.

If you want to rip UHDs, you'll need a different drive. UHD capable drives will show MT1959 for the drive platform.

viewtopic.php?f=16&t=19634

That link is a good place to start.