TheFixer: I have not try it - I read is on DAZ3D.COM in the FAQ:

• *Q: Will Victoria 4 still work if I install Victoria 4.1 into the same Runtime folder?
  A: No need to install Victoria 4.1 to a separate runtime. In fact, it may cause you problems if you do, and then don’t realize what else needs to be done. V4.1 won’t overwrite your old Victoria 4.0 CR2’s, in case you still want them for any reason

• The V4.1-update must update in the same directory as the POSER.exe - my V4.0-installation was in a external runtime-directory.
  My V4.1-update will not work. I can not see a morph for the V4.1