Hi @PritamA ,
By finding the location of PowerBIReportServer.exe and launching the installer. Then select Update and it will update to the latest version(Sep 2022).
But if you want to update and install the developed version, you can only download the corresponding version manually and install it.
Download Microsoft Power BI Report Server - May 2022 from Official Microsoft Download Center
If this post helps, then please consider Accept it as the solution to help the other members find it more quickly.