Generation of the Live Map should take place daily, but the queue of changes is lengthy, so most map edits should appear in the Live Map within 2 days. Clicking a location where a road is located will show the most recently updated data. Updates to the map on the Waze client app happen at the same time. There can be delays in the map update cycle which will be documented on Waze Status.
From the Waze web application you can look at the Live Map tab and at the lower left of the screen below the map you will see the last update of that map information.
Newly recorded roads will not appear in Live Map until they have been edited in the Waze Map Editor. This will need to be done by either you or the appropriate Area Manager.