Yo, if I just download the newest version will my saves transfer? I'm not too sure
I always uninstall the last version before downloading the latest and my previous saves remain intact. So I think you don't have anything to worry
Ren'Py stores a backup of your saves in your OS's file structure so the saves should follow, but if you want to be extra sure, you can always just copy the "saves" directory from the old version to the new version.