Just extract the zip file it comes in and run the exe, it's pretty straightfoward nowadays. It's generally safe to update it but if there's a power outtage while it's flashing it there's a possibility that you'll brick your motherboard, rendering it completely useless.
Unless you're having a problem or bug of some sort it's best to leave it as-is, don't update the BIOS just for the sake of having the latest version of it.