I would recommend you to create a staging site (a full copy of live site) and update Royal there. Make sure that everything is ok and only after that update everything on the production site.
As I can see, the version of your parent theme is 2.3, the latest version of Royal is 4.7.3. You need to update the parent theme (follow our documentation – https://www.8theme.com/demo/docs/royal/#installation_upgrade). If you use child theme then child theme files should be updated according to new files.
Setup Wizard should be skipped after the update.
How to update plugins, read here – https://www.8theme.com/faq/
Please note that the latest version of Royal theme is compatible with WooCommerce up to 3.5.x version. New theme version will be released soon and will be compatible with WC 3.6.x.
We can help you with the update, provide us with temporary wp-admin and FTP access to the staging site http://prntscr.com/nadsqw
