Just remember not to use the opkg upgrade, unless clearly instructed so by the developers.
If you really need the latest version, you should upgrade the whole image by flashing a snapshot.
Otherwise wait for the next stable release.
I like to be on the 'Bleeding Edge'. I've been updating about weekly since I started using OpenWrt a year or so ago. Never had a major problem. Sometimes I have to make minor modifications after an upgrade, but that's just par for the course.
Wireguard gets updated and fixed often because it's beta. Keeping it up to date on OpenWrt isn't the same as most of the software.
Then you could/should be building your own images from source, if you aren't already. ("Upgrading" packages has multiple problems and is not recommended in general.) That would also allow you to update the package Makefile as soon as you wanted.
No one should build images from source unless they completely understand what they are doing. I'm not really interested in learning as much as I'd need to to be competent. I can fix individual problems with updated software, but I'm not at a level where I can fix an entire build gone wrong.
In my opinion, the OpenWrt build system is very robust and as long as sources are not modified by you there is little, if any concern.
Minimal knowledge is required to change a version of a non-base port. Any errors would result in the port not building or being non-functional. Even if the resulting image was flashed, it would be exceptionally unlikely not to boot.
Simply wishing that a package would have been updated and compiled for all 30 target platforms in a few hours after an upstream release is rather optimistic...
OpenWrt is a community effort. Somebody needs to update a package to its new upstream version. (Modify Makefile and patches as necessary, compile and test). You could be that "somebody" as you are interested in getting the brand new version of that package now.
There are no generic resources who are paid to take care of updates of the about thousand different packages available in OpenWrt. This really is a community effort based on layman enthusiasts.
OpenWrt's wireguard is 3 generations old. I'm not EXPECTING it to be updated and compiled in a few hours, just wondering if/when the new version wil be available. FTR: The the latest version is in projects / openwrt / staging / chunkeey.git / commit.
Following 'how to' instructions to compile is very different than knowing what you're doing. I could build an image, but I shouldn't unless I really know what I'm doing, which I don't.
They usually don't get backported for a couple of reasons. The majority of contributors only runs master branch and there are only a handful of people backporting due to time/interest/policies so some commits may not be backported. If you want to follow master ("latest software") your best bet would be to compile it yourself but be aware that you may end up with a non bootable image so make sure you know the recovery procedure for your device. Also, due to how the filesystem(s) works you most likely (in most cases) do not want to upgrade packages rather do a sysupgrade (flash a "full" firmware with newer software) instead.