I spoke with Ring. They said it was to let you know that the firmware was (or needed) to be updated.
They said mine auto updated. The next day it was still beeping.
I took the battery out and put it back in and am waiting to see if that fixed the issue.
I noticed beeping with 2 of 3 of my cameras. It seems that only on of the 2 is still beeping.
I did not have the 2 second recording issue that you report.