No.

Haha, sorry, my mistake. I shouldn't have included two questions in the same sentence. Is that 1 - No, an update do not remove the present version or 2 - No, you will not have two versions installed?

At least for a full upgrade (v25 to v26), Finale does not overwrite the earlier program. Some users have several version on their computer, so long as their operating systems allow.

A program update (from 26.1 to 26.2) will overwrite the earlier version of that program.

Aha, that makes sense. Thank you!

In the accepted parlance, an Upgrade refers to full versions (25 to 26) while an Update refers to incremental changes such as 26.2 to 26.3.

You don’t have to do this, of course, but discussion boards are easier when we all speak the same language.