Need For Speed’s official site recently posted a couple of answers to some questions players have asked about the game. The questions were asked by players via e-mails, and the answers were provided by Mr. Scott Nielsen.

When asked when the first patch will come out, Mr. Nielsen provided the second week in February time-frame. He also added that the patch will optimize in-game performance and fix the discontinuity in the frames per second, and will improve the logics of the game's adaptation to the player’s skill level.

More here.  

Update:  the patch has been released and can be downloaded here:

Need for Speed Undercover v1.0.1.17 NA Patch (9.25MB)

Need for Speed Undercover v1.0.1.17 EU Patch (FR/GR/IT) (9.27MB)

Need for Speed Undercover v1.0.1.17 EU Patch (UK/RU/DK/SP/FIN/CZ/HUN) (9.27MB)