I also bought the Touch earlier this year (February, so ~10 months ago), and was also hopeful that holding up phone to unlock would eventually be a firmware/software update enabled feature. From my internet searching, there's no indication Level intends to do this with the Touch. Instead they are pushing the Level +, which is basically the same as the Touch except with Apple HomeKey. Some folks online claim the + has a stronger radio than the Touch. I have been very disappointed with the unreliable performance of the touch to unlock feature in the Touch. It only works for me if I pull out my phone and open the Level app, and watch as the text indicator in the app goes from "touch to unlock not ready" to "touch to unlock ready". After that I can touch the lock and it will indeed unlock, but of course having to pull out your phone completely eliminates the the value of touch to unlock.
Some reddit folks have said they use NFC stickers and homekit automations to enable NFC to unlock behavior with the touch. I haven't done this myself, but would guess there's probably a noticeable delay, and it still requires you to unlock your phone for it to work.
https://www.reddit.com/r/HomeKit/comments/lhoy4d/unlock_level_touch_lock_with_nfc_tag_shortcut/