I bought my version of the game from Steam will it auto update next time I play/open the steam client or how does this work?
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yes, the Steam version will automatically update. We have information over there about how you can roll back to the previous version if you have to. This shouldn't affect all saved game, just some, but if you have issues please read: https://store.steampowered.com/news/app/1484620/view/3365892887507066436