As mentioned I am trying to update my iPhone using my Mac but there is a bit of an issue as the after:
(on Mac)
iOS device(in finder) > check for update > prompts for confirmation and agreement > Asks to enter the pass-code on my iPhone to continue and that my iPhone will verify the update.
(On iPhone)
The device displays a badge saying verifying update and then a passcode screen appears behind it. After a while it throws an error saying the update can't be installed and gives options to either "Try Again" or "Remind Me Later" If I choose "Try Again" it aborts the process and the passcode screen behind it goes away, however, if I choose "Remind Me Later", it lets me enter the passcode and I see the update being downloaded on my Mac.
The problem is that the update size on my iPhone showed to be just over 200 MB but on my Mac, it's downloading an update with the size of 6.17 GB.