Hi varioijo,
If you have made code customization in the theme then while updating to new version all your customized code will be lost. So we always recommended you not to change the code. If you need to change it then you need to create a child theme before making any changes on it.
If you have not made any code customization but only changed the settings from your theme options, widgets and customizer then your nothing will be lost.
Before making an update first of all make a backup of your site and database and then only update your theme.
We are changing the menu style appearance. Soon latest version will be available with navigation menu redirect to homepage fixed.
Thank you!