You most likely don't need to update the bios given that ryzen 5000s came out more than one year ago, even you do it would be really easy. Tuf plus wifi 2 supports usb flashback and all you need is an usb drive. The wifi antenna is there to provide better signal, you can scroll and match it on I/O and leave it at the top of your case.
@MauiR
With a 5600X and a B550 board, you won't need a BIOS update to POST. It's a good idea to go ahead and flash the BIOS though, get updated to the latest AGESA firmware.
For the Wi-Fi antenna, you screw it in it to the gold ports next to the audio ports on the motherboard.
Without the antenna plugged in, you'd barely get any Wi-Fi signal. If you're using Ethernet, you don't have to use it.
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