He's talking about the Last Round content DLC for the Last Round upgrade patch for Ultimate. Which the answer would be, likely yes since the Last Round content DLC only includes everything brand new to LR, so the fan costumes and Honoka and Raidou.
He means LR physical. I don't think versions with just the patch get the characters. Also, its Raidou.
if you update DOA5U Honoka and Raidou are DLC... they're not exclusive to retail versions of Last Round