Swipe down and choose an app with Live Activities support (using the TV app below)
Note: developers need to build support for the feature, so it may take time for the option to show up for third-party apps after the public iOS 16.2 release
Choose Live Activities
Tap the toggle next to More Frequent Updates
Live Activities will need to be allowed to see the new option
Using the feature will drain your battery faster, so you may want to be careful how many apps you turn it on for