Hello Larry,
[Topic moved here.]
No -- there's no need to install any v4 updates (or even to have v4 installed at all). Please see the 'Installing Hauptwerk: Upgrading or re-installing Hauptwerk' section in the main Hauptwerk user guide for the necessary steps (pages 26-29 in the current v5.0.1 version): https://www.hauptwerk.com/documentation/
(Those instructions recommend that you should have all available operating system and driver updates installed, not Hauptwerk v4 updates.)