Hello, there's quite a bit of character customization in the demo: first name, pronouns, gender, royal title, tattoos, scars, family motto, a pet.
You do get to make meaningful choices and there will be different endings and different paths that you can take. Not every choice is necessarily meaningful but many are.
The current demo has the Prologue and Chapter 1, which is just over 40K words. The game's plot is outlined and I am working on chapter 2 at this time.
I can't give a hard date on when I update because it depends. Each chapter has a lot of branching and that takes time. But chapter 2 will be coming out around October (most likely).
The sexual content is not included yet but will be quite explicit, although skippable and completely optional. I recommend you read this ask on my Tumblr: https://at.tumblr.com/nextinline-if/so-uh-what-kind-of-options-are-you-intending...