What happens when you install an update.?

Hello
I am new to the forum, my question is concerning what happens when you install an update. Will any of my settings be changed in anyway? I am currently using 1.0.06 and the program has been prompting me to install 1.5.06. What are the benefits of installing this update.?
Thanks

…is this LightBurn you’re talking about?, here version no. 2.1.xx is the current version.

No, the settings you have been using should not change. If they are, it is an easy fix by reloading an older copy of the .lbprefs file.

This is really weird sounding. This should have happened years ago.