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The phrase "are updated annually" is correct and usable in written English.
You can use it when describing a process or schedule that involves regular updates on a yearly basis.
Example: "The company policies are updated annually to reflect the latest regulations and best practices."
Alternatives: "are revised each year" or "are refreshed on a yearly basis."
Exact(45)
All of them are updated annually, although Mei Moses will soon publish a semi-annual update for the World All Art Index.
Policies and requirements are updated annually.
As the HRC gain continues to slowly decline, the gain maps are updated annually.
Topics are updated annually to reflect new developments in clinical practice.
Lord's and Loomis's organizations issue safety guidelines that are updated annually.
The Independent has now learned that, while both data sets are updated annually, the "older" classification is based on 2001 census data and the "updated" version is based on the 2011 census.
Similar(15)
This report is updated annually.
The audit will be updated annually.
The list is to be updated annually.
(1) The wage index is updated annually.
This database will be updated annually.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com