Final answer:
To update a custom report with the most recent data, the correct option to select is Refresh. It retrieves the latest information for the parameters set in the report.
Step-by-step explanation:
To generate the most recent data under a custom report, select Refresh. This option updates the report with the latest available information. When you select Refresh, the system will retrieve the most current data based on the parameters and time frame set for the custom report.