The incremental OTA update starts rolling out and it will take a few days to reach on all devices. If you cannot wait for the OTA, you can also download and install the OxygenOS 5.0.3 stable update manually. Below is what is new in this update, download link and manual installation instruction.
One of the highlighted features of this update is Face Unlock. OnePlus 5 and OnePlus 5T already have this feature, and company’s new flagship OnePlus 6 has also comes with Face Unlock. Earlier this year, OnePlus tested Face Unlock for OnePlus 3 and 3T through open beta channel and now it is getting on all devices through the stable update. OxygenOS 5.0.3 changelog: If you would like to install the OxygenOS 5.0.3 stable update on your OnePlus 3 and 3T, then download the full ROM update file for OnePlus 3 from here and OnePlus 3T from here. After downloading the ROM zip file, follow this flashing instruction. As always, back up all important data you have on the phone before proceeding to flash the new firmware. (Source – OnePlus)