This would be expected behaviour currently. I will put this through as a feature request to include with productUpdate mutations.
Regarding the example payload, our docs here show the currently expected payload: Webhooks
{
"admin_graphql_api_id": "gid://shopify/Product/788032119674292922",
"body_html": "An example T-Shirt",
"created_at": null,
"handle": "example-t-shirt",
"id": 788032119674292922,
"product_type": "Shirts",
"published_at": "2021-12-31T19:00:00-05:00",
"template_suffix": null,
"title": "Example T-Shirt",
"updated_at": "2021-12-31T19:00:00-05:00",
"vendor": "Acme",
"status": "active",
"published_scope": "web",
"tags": "example, mens, t-shirt",
"variants": [
{
"admin_graphql_api_id": "gid://shopify/ProductVariant/642667041472713922",
"barcode": null,
"compare_at_price": "24.99",
"created_at": "2021-12-29T19:00:00-05:00",
"id": 642667041472713922,
"inventory_policy": "deny",
"position": 1,
"price": "19.99",
"product_id": 788032119674292922,
"sku": null,
"taxable": true,
"title": "Small",
"updated_at": "2021-12-30T19:00:00-05:00",
"option1": "Small",
"option2": null,
"option3": null,
"image_id": null,
"inventory_item_id": null,
"inventory_quantity": 75,
"old_inventory_quantity": 75
},
{
"admin_graphql_api_id": "gid://shopify/ProductVariant/757650484644203962",
"barcode": null,
"compare_at_price": "24.99",
"created_at": "2021-12-29T19:00:00-05:00",
"id": 757650484644203962,
"inventory_policy": "deny",
"position": 2,
"price": "19.99",
"product_id": 788032119674292922,
"sku": null,
"taxable": true,
"title": "Medium",
"updated_at": "2021-12-31T19:00:00-05:00",
"option1": "Medium",
"option2": null,
"option3": null,
"image_id": null,
"inventory_item_id": null,
"inventory_quantity": 50,
"old_inventory_quantity": 50
}
],
"options": [],
"images": [],
"image": null,
"media": [],
"variant_gids": [
{
"admin_graphql_api_id": "gid://shopify/ProductVariant/757650484644203962",
"updated_at": "2022-01-01T00:00:00.000Z"
},
{
"admin_graphql_api_id": "gid://shopify/ProductVariant/642667041472713922",
"updated_at": "2021-12-31T00:00:00.000Z"
}
],
"has_variants_that_requires_components": false,
"category": null
}