How to update (install) the program in Windows?

Question

Windows

When the program starts, a notification is shown that a new version has been released, which must be downloaded from the manufacturer's website in the form of an executable distribution (.exe). Question. If the program itself does not provide auto-update, then how to install the new version correctly:
1) uninstall the program and install the new version (downloaded from the official site)
2) install the downloaded update without deleting the old version (like, the installer of the new version will automatically deal with the old one).
In general, everything is the old fashioned way, nothing has changed? (first option)

Answer 1

The second option usually works - the new version simply rolls over the old one, overwriting the program and saving the settings.