301 Redirect – updated meta descriptions

I recently migrated my site and in the process also changed the URLs of some of my top pages. I correctly setup 301 redirects to them so they are not dead links, submitted a new sitemap to google, and am now wondering when I can expect Google’s URLs and meta descriptions to update to reflect my new content.

For example I changed https://www.offthebeatenpathfoodtours.com/harvardsquare.html to https://offthebeatenpathfoodtours.com/tour/harvard-square-cambridge-chocolate-tour/ but when you search Harvard Square Chocolate Tour, the old URL (https://www.offthebeatenpathfoodtours.com/harvardsquare.html) comes up. While it does redirect to the new link when you click on it, I’d like the new URL and content updated in Google.

So two questions:
1. When can I expect Google to update this information?
2. I’m also wondering when this new URL does update, will it affect the ranking of page (meaning will it just assume it’s a canonical URL or will it think it’s new content altogether and have a low ranking)?

Thanks!