Nintendo recently teased that they will soon be holding a livestream with Super Smash Bros. Ultimate director Masahiro Sakurai as he gives us a breakdown about the games next DLC character 'The Hero'
The Hero represents 4 characters of the Dragon Quest series and according to yesterdays announcements, Sakurai will be taking fans through in-depth look at the coming fighter. The demo presentation has been scheduled for July 30th, shortly after, according to Nintendo Europe, version 4.0.0 system update will launch and Super Smash Bros. Ultimate replays won't be compatible with the new system.
This could mean that The Hero is apart of the version 4.0.0 update and will sneak in as a fast surprise for us, right after the livestream reveal ends. This would be pretty cool and I'm sure many fans would encourage that level of surprise. I cannot confirm anything officially as of yet, but if I believe this is a safe assumption especially when considering Joker arrived with version 3.0.0. Super Smash Bros. Ultimate is exclusively available on the Nintendo Switch.