ArcaOS 5.0.x Update Procedure
I made an update of my ArcaOS 5.0.4 VM to 5.0.5 to test the update procedure.
The process is showed next in screenshots.
The first step is to load the ISO image as a guest CD-ROM and boot from the CD, not the hard drive.
Follow the two screens of the installation until you get the options when you need to select "Update".