Hello,
Updating the plugin will replace the existing plugin files, so if you’ve made any changes there, they will be overwritten. However, you’re settings in the admin section of your site should be safe! We always recommend making a full backup of your site before updating though, just to be on the extra-safe side : )
If you have made changes directly in the plugin files, I would recommend taking a look at our themer’s guide, which has instructions on how to customize our plugins in an update-safe way.
Let me know if you have any questions!
Thanks,
Jennifer