"Java update has not yet been run".
That only means that it hasn’t successfully tried before to update this software through the control panel. If it had checked for updates before, then that line would instead tell you about the last time the internal updater was used: “Java Update was last run at 14:45 on 13/07/2022.”
It is recommended that you enable Check for Updates Automatically, as Java bug fixes should always be applied as soon as possible. The manual Update Now button is no longer present from the current installer version. Use the checkbox.
I would additionally recommend to disable the use of Java in browsers, as that has historically been an attack vector for malware.
Are you online/internet connected when this happens? Does the ‘spinner’ time out after a while? Verify that none of the sites are blocked that the updater tries to contact, e.g. blocked through a network monitoring tool or security/AV software.
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Version 8 Update 333 is currently the recommended and latest version of the JRE for personal and non-commercial use. Not further update is needed at this time, for this edition. (The development kit uses different versioning.)