as a rule, i usually keep old installs of hb when a new version is released.
you can download the new zip, always recommended to dl the zip, never use the installer.
create a new install of hb using the new released zip and test the new release, before deleting the old install.
doing this will make it much easier to roll back to an older version if the new version doesn't work as intended.
personally, i try to never update a working version of hb. there are two reasons to update. one, a bug you are experiencing is addressed in the new version. second, you are forced to update because of a content patch which requires a new version of hb. Never feel like you HAVE to update, just because a new version is released. always read the new version's patch notes first.
disclaimer--there are always exceptions to most every rule. For example, last week, my CR was updated to work with a newer version of HB. i was required to update hb to work with the revised version of my CR. however, i still keep the older version [.763] active for all my other botting needs.