Generally speaking, then yes you should update your BIOS if an update is available. Do you need to? Not necessarily, but read description from your mobo manufacture to see what is fixed with the new BIOS version(s) since your version.
All you really need to do is to download the BIOS file. Extract it from the zip file into USB stick. Reboot computer into BIOS and select update. You will likely loose your settings so take note of that first. Also while you can update BIOS from within Windows i strongly recommend not to do that, as often this can go wrong and corrupt your BIOS.