7D Mark II Firmware Version 1.0.5 (made available September 2015) incorporates a number of fixes and improvements.
1. Improves AF accuracy when used in combination with the EF 16-35mm f/2.8L USM lens or EF-S 17-55mm f/2.8 IS USM lens.
2. Fixes a phenomenon in which, in very rare cases, the “Peripheral illumination correction” is applied inconsistently.
3. Fixes a phenomenon in which, while performing an EF lens firmware update, the progress bar displayed on the LCD monitor may freeze at 100% even though the update has been completed.
4. Fixes a processing error in relating to the leap second for the “Geotag information appended to image” and “Log data” GPS functions.
5. Fixes a phenomenon, where at the time of shooting in very rare cases “Err 70” occurs, or the shutter does not release.
Please note: After updating the firmware, you should reconfirm any AF Microadjustment you may have set for your EF 16-35mm f/2.8 USM or EF-S 17-55mm f/2.8 IS USM lens.
EOS 7D Mark II Firmware Update, Version 1.0.4 (made available in May, 2015) will fix various phenomenon:
1. Fixes a phenomenon in which the camera’s AF function may not operate properly at a focal length of approximately 100mm when used with the EF 70-200mm f/2.8L IS II USM lens.
2. Fixes a phenomenon in which, in rare instances, the reduction of the flicker effect cannot be achieved when in AI servo AF mode, despite the “Anti-flicker shoot” function being set to “Enable”.
3. Fixes a phenomenon in which the Picture Style settings may not be applied to the captured image when the camera is set to custom shooting mode C1, C2 or C3.
4. Fixes a phenomenon in which, in very rare cases, the first still image captured in live view mode may not record the correct date and time.
5. Fixes a phenomenon in which, in very rare cases, image noise may appear in JPEG images when brightness or contrast is corrected by the Auto Lighting Optimizer function.
7D Mark II Firmware 1.0.3 appears to have been very short-lived. While there appear to have been some cameras shipped with 1.0.3 installed, there are almost no mentions of it anywhere else. Maybe it was replaced very quickly, never even made it to the websites for download. There are some mentions of people updating from 1.0.2 to 1.0.4, skipping over 1.0.3 entirely. And, on the Canon, Canada website download page for 1.0.4 it states "Firmware Version 1.0.4 is for cameras with Firmware Version 1.0.2 or earlier." Once again, 1.0.3 is skipped. That's either a typo or 1.0.3 just wasn't used very much!
Then, there seemed to be a lot of glitches with firmware 1.0.4... so many folks seemed to update to 1.0.5 as soon as it was available (only 4 months after 1.0.4).
Note: In Canon-speak, "phenomenon" translates to "screw up", "mistake", "error" and similar.
I don't recall what firmware was on my 7DII when I bought them, but I updated to 1.0.5 a while ago and it works fine, seems stable. I'd just recommend going ahead and installing it, regardless of whether it fixes anything you need or not (sometimes I think there are "unmentioned" fixes in firmware updates.... but I can't prove it).