Kidding aside, updates usually introduce crucial software patches and bug fixes that can enhance performance and eliminate errors.
You can manually check for updates by clicking Help from the main Flash menu bar, then Updates. Flash will open the Adobe Updater tool, check for updates, and ask if you want to provide Adobe with information regarding your update and its success. (This is just for their metrics and bug reporting; it's up to you if you want to share that information.)
Once you get past that question, you'll see a list of installed Adobe applications on your machine that have updates available. You can click on the arrows to the side of each application to view the individual updates and select which ones you want, or click the checkbox for each application to select or deselect all updates. When you've made your choices, click Update and just sit back and let it work. This can take some time, depending on the updates available and your selections; the updater has to download the content first, then apply it to the individual installations. It'll notify you when it's done.