Cubase 10.5 to Cubase 13

Hi There.
Iam a little confused regarding the current 30% off offer. There seems to be 2 options for me one is to upgrade and one is to update. The update is cheaper. Am i right in thinking that the update will over right my current version of cubase to version 13 and the upgrade will be installed separately so I have 2 versions of Cubase. Ver 10.5 and 13
Many thanks for any reply’s

if you already own Cubase Pro, you can buy the update because you stay within the Pro edition. Upgrades are required if you want to go from a smaller edition to a bigger one, like from Cubase Elements to Cubase Pro.
You can still install and run all previous version with the updated license. Since all Cubase installations are independent of each other, the different version can be used in parallel on the same computer too.