The three categories or labels shown on the firmware page are: Good, Warning, and Critical. If you hover on the information bubble it displays a description. Including them below. This is also covered in documentation.
Good
You are running the latest firmware. A minor update may be available, but no immediate action is required.
Warning
Newer stable major firmware or newer minor beta firmware is available that may contain security fixes, new features, and performance improvements. We recommend that you upgrade to the latest stable or latest beta firmware version.
Critical
Your firmware is out of date and may have security vulnerabilities and/or lack key performance improvements. We highly recommend that you upgrade to the latest stable or latest beta firmware release.
The status doesn't equate to when upgrades will be performed. That is still dependent on the settings you have selected on Network-wide > General > Firmware upgrades. More details here.
If you found this post helpful, please give it Kudos. If my answer solves your problem please click Accept as Solution so others can benefit from it.