Note that electrum versions older than 3.3.4 are vulnerable to a phishing attack in which the server can display a message and ask you to download a fake version of electrum.
So, ignore any message you see on electrum asking you to update the wallet.
If you want to update electrum, go to
its official website. Download electrum from there and don't forget to
verify your download.
Is it safe to upgrade Electrum on the same machine?
If you want to be completely secure, you should have your electrum wallet on an airgapped device. If your wallet has been already connected to the internet, I don't think that makes much difference whether you install the new version on the same device or not.
If you have two devices and you think one of them is more secure than the other one, it's obvious that you should use the more secure one.