A Patch is a “repair job” for a piece of programming; also known as a “fix”. A patch is the immediate solution to an identified problem that is provided to users; it can sometimes be downloaded from the software maker's Website. The patch is not necessarily the best solution for the issue, and the product developers often find a better solution to provide when they package the product for its next release. A patch is usually developed and distributed as a replacement for or an insertion in compiled code (that is, in a binary file or object module). In many operating systems, a special program is provided to manage and track the installation of patches.
Source: https://nvlpubs.nist.gov/nistpubs/Legacy/SP/nistspecialpublication800-45ver2.pdf