Basically yes. At least on a windows desktop.
All I do is just unpacking the ZIP in the folder I use for LD+ and other adult games.
After that I can just delete the old folder and done.
As an Example the ZIP for the r27.1 has contains a folder named “Lust Doll Plus r27.1 (Win)” that contains all data, and (after unpacking) I just had to delete the folder “Lust Doll Plus r26.1 (Win)” so that it didn’t occupied storage.