Valorant patch 1.02 is now available, bringing with it several refinements, but not competitive mode yet.
Competitive mode is delayed still as confirmed by Twitter,
"We found another bug that puts competitive at risk, so we're holding off turning on ranked for a while longer. Sorry for the delay, we're working as fast as possible to get a fix and, when we get one, we'll turn ranked on. Predicting a day or two, but nothing confirmed yet."
However, when it arrives, competitive mode is set to add new rank iconography, a new name for the top rank (called Radiant), and an expanded skill disparity range if you’re playing with friend in rank placements.
A surrender option has been added, however, as part of this patch. You can only call a vote once per half, and can’t call a vote before Round 8. Additionally, the winning team will receive round-win credit for all the remaining rounds needed to hit the magic 13 rounds, while the surrendering team will receive round-lose credit for those same rounds.
Several agents were also tweaked, in addition to maps so that clearing angles would be more straightforward for certain locations in Haven, Ascent, Bind, and Split. Performance optimizations, HUD, UI, Battlepass, and bug fixes also round out the patch.