Controller manufacturer Hit Box, has released an updated firmware that will bring the controller in compliance with the new CPT rules, which will make it tournament legal in time for the 2023 Capcom Pro Tour season.
Capcom had earlier issued a statement in which they introduced a rule change that was going to affect Hit Box users. In the statement, they explained that moving forward, while Hit Box was allowed and is tournament legal, the SOCD must be in compliance. The general rule stipulated was that UP + DOWN = Neutral, which was different from Hit Box's SOCD resolution at the time. This was followed by several reactions, many of which were displeased at the new direction. Hit Box released a statement of its own claiming that it already had something akin to what Capcom was requesting but would like to have some time to test it further before releasing it to the public.
In a tweet from their account, they announced that they now have the updated firmware, and it can be downloaded and used.