To update your iPhone to iOS XXX, you need to install the latest version of iTunes.

I have Windows 10, with iTunes Version 12.12.8.2, which is the latest available version at time of writing. I want to update my iPhone to iOS 16.4, but I get the following error on iTunes: "To update your iPhone to iOS 16.4, you need to install the latest version of iTunes."

I already have the latest version of iTunes!!! How do I fix that? Disbling the Firewall/Antivirus does not change anything.