It is tied to your account and no code is given is my understanding.

Thanks....looks like you were right on.
 

I already have the Xbox One version of Gears of War: Ultimate Edition. Are the two versions of the game linked?

The Xbox One and Windows 10 versions of Gears of War: Ultimate Edition are different versions. There's no link or crossover between the games.
As you'll need to have a Microsoft account to sign in to Xbox Live to play, you can earn achievements and gamerscore in both games. However, any progress you make on the Xbox One version will not carry over to the Windows 10 version, and vice versa.
 

ManBearPig
It is tied to your account and no code is given is my understanding.

 
Correct, Your Microsoft Account or your Xbox Account.
You have to logon to the Microsoft Store on Windows 10 through Windows Apps.

For the Xbox Anywhere (get both Xbox 1 and PC versions) you have to buy the digital version. If you buy a code to download GoW4, you only get one code that works for both PC/Xbox, you don't get 2 separate codes. You use the one digital code on your preferred console and get the other tied to your account to use whenever you want. Amazon is selling a digital version of GoW4 Ultimate that works for both consoles, but you only get the one code and no physical steel book.

It would be nice if they allowed PC gamers to get a PC version with physical stuff.  :( 

That would be nice. If they sold a Collector's/Ultimate Edition with all the physical content but instead of a disc, just include the code card.

Ugh that'll take over 4 months to DL with my 20gb a month cap

Doubles
Ugh that'll take over 4 months to DL with my 20gb a month cap

No Cap and it won't download for me .........try again later message .............sheesh
 

Ah just waiting for it to unlock tonight. Just downloaded it this evening and took about 45 mins. Massive download. PUMPED beyond belief. I am a huge GOW fan and played them all on Xbox 360 when I had it back in the day. 
 

 
Downloading now.