It is curious, that updating has not been published on site of Apple and is accessible only through a player iTunes. Thus installation process is shown on computer display, instead of on the display of iPhone itself.
As tomkarl said, caps lock is there already. Settings > General > Keyboard > Auto-Capitalization -> On. When typing, double click the shift key and it will turn blue to indicate caps lock state.
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You don't type acronyms in all caps?
As tomkarl said, caps lock is there already. Settings > General > Keyboard > Auto-Capitalization -> On. When typing, double click the shift key and it will turn blue to indicate caps lock state.