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Same behavior here but when I open the "Check for Update" link of the "\Crusader Kings II\launcher\launcher.cfg"-file manually, I get a link to download patch 1.05.
 
I am having the same problem with the launcher. It acts as if 1.04C is the latest version.
 
You can find the patch on your GG account. Go to Gamersgate, log in and select Crusader Kings II from your games list. There you find all the patches for CKII.
 
I did that. It is just annoying seeing the launcher say the current version is 1.04C when it is 1.05b.