Update: in addition to the old cloth new
Renewal refers to the disappearance of the old and the appearance of the new, which means the pursuit of better attributes in addition to the old and the new. It is usually used as a verb and can modify the subject or object.
Repetition: the act of repeating and repeating.
Iteration is a process of exchange and substitution, emphasizing repetitive and circular actions. It can be used as an adjective to describe a certain trait, and it can also be used as a verb to express the action of exchange or substitution.
Innovation: creating new ones
If you are looking for a word with a similar meaning to "update" but slightly different, then "innovation" may be a good choice. It means to go out of the old and welcome in the new, which is similar to the "update" in the sentence. Innovation is usually used as a verb to modify the subject or object.