Immutable in this context refers to an OS that can’t be changed while running. Steam deck does something like that. Basically the all of the OS system files are read only, so that the user or some malware can’t Bork the system. The only parts that are writable are the users profile directory and the logs.
You can still receive updates and install apps. It’s just that that’s handled a bit differently than with a standard OS.
E.g. it could be that the OS provider only issues complete updates, and then you either have to reboot. This is the case with steam os on the steam deck. The System portion of the OS is mounted read only during use.