Earlier quoted context omitted.
Does High Sierra update the microcode of the CPU? For Sierra, a patch is likely coming; there is "Security Update Developer Beta 2018-001" which you can get using their beta program.
What about those of us still on 10.11? That one is horrible already but the horror stories I see on a daily base from colleagues with 10.12/10.13, thanks but no thanks... I'm not a free QA engineer for Apple.
Update: According to https://support.apple.com/en-us/HT208331 the Security Update 2017-005 contains fixes for Meltdown.
Update 2: According to https://support.apple.com/en-us/HT208403 the Safari Update 11.0.2 contains fixes for Spectre.
So folks on 10.11.6 El Capitan should be good.