Bing is testing the timeline in the news section with news headline, Date, and site name. I think this isn’t a live update, since I searched this on August 5th and the latest headline was from 1st August 2022.
Here is the Screenshot:
Also, you can see the date gap between the timeline. It shows that it is not a live update. The same result is shown when I filtered the news with “Past hour”
Here is more Screenshot: