This article is for Office 365 SharePoint environment and you received notification in your site where you have installed ShortPoint SPFx on, that there is a new update available.
This type of upgrade does not require downloading anything from ShortPoint website or uploading anything to App Catalog. It will update ShortPoint directly from the site.
Step 1: Open ShortPoint Dashboard App
Open Site Contents
In Classic Experience, click on ShortPoint
In Modern Experience, Click on ShortPoint
Step 2: Click Reinstallation & Upgrade
Step 3: Click Upgrade
Wait. Do not close the window!
You are done :)