If you fear losing everything, copy your content to another folder or drive. My runtime folder with my content is not in my Poser app folder, so it doesn't overwrite my content. Lately, the updates even recognize my different runtime libraries (with my Poser content, my DAZ content, and my Poser 5 content---I have Poser5 installed along with Poser Pro 11), so I don't have to reselect them with each update.

But my Poser Pro 11 isn't an update of Poser 5. They're separate full-price purchases, so maybe someone else would be better suited to answer you.

---

W11,Intel i9-14900KF @ 3.20GHz, 64.0 GB RAM, 64-bit, GeForce GTX 4070 Ti SUPER, 16GB. 

Old lady hobbyist.

All visual art or fiction is "playing with dolls."