When patched toolchain releases are available (for example, v3.4.0+2), search shows the latest patched release for each SDK version by default:
SDK Version SDK Status Toolchain Version Toolchain Status
v3.4.1 Installed v3.4.0+2 Installed
v3.4.0 Available v3.4.0+2 Installed
Use --show-all to list every patched release and its relation to SDK versions:
> nrfutil sdk-manager search v3.4 --show-all
SDK Version SDK Status Toolchain Version Toolchain Status
v3.4.1 Installed v3.4.0+2 Installed
v3.4.1 Installed v3.4.0+1 Installed
v3.4.1 Installed v3.4.0 Installed
v3.4.0 Available v3.4.0+2 Installed
...