When will the updates be available for the iPod 5 Touch?

The iPod Touch 5th gen has even lesser hardware specs than an iPad 2 which is also NOT eligible for an upgrade to iOS 10.

The iPod Touch 5 has a clocked down 1 Ghz CPU (clocked down to 800 Mhz) with only 512 MBs of RAM.

Qualifying iDevices have a faster than 1.0 Ghz CPU with, at least 1 GB of RAM.

The iPod Touch 5 is, basically, four year old technology that is too old for the more modern iOS 10.

Beside, I suspect that your iPod Touch 5th gen will NOT have received ANY of the new and cool features of iOS 10.

Older iDevices have, traditionally, only got basic, baseline functiinality features only.

So, there would be little to no real benefits, other than perhaps, slower performance, by letting lesser hardware iDevices running iOS 10.

Sorry.

Never. Its hardware is not compatible with iOS 10

As you can see in the link below, iOS 10 does not support iPod 5 Touch only iPod 6 Touch.

http://osxdaily.com/2016/06/14/ios-10-compatibility-list/

They wont. The 5th Gen iPod Touch will not support iOS 10.

There will not be a functional update. Only if a security problem is discovered will Apple provide an update to fix it as they did for iOS 6 for the 4g iPod touch.

Why???

The iPod 5 is obsolete because it doesn't have the hardware required to run the newer software.