Hello,
Yes, you need to update theme and plugins to latest versions.
Please follow our documentation https://www.8theme.com/demo/docs/royal/#!/installation_upgrade
https://www.8theme.com/download-plugins/ (https://www.8theme.com/faq/ – How to update plugins included in theme?).
Before uploading theme files delete “woocommerce” folder, which is located in wp-content/themes/royal/ to avoid problems with old files (it’ll be reuploaded from a new theme package).
Don’t forget to create backup of your files and database before starting update process!
You need to enter your purchase code to activate the theme and skip Setup Wizard.
Feel free to ask if you have any other questions.
Regards