Hello,
Update the theme, then XStore Core plugin – https://xstore.helpscoutdocs.com/article/63-theme-update https://xstore.helpscoutdocs.com/article/37-plugins-update and others. Do a full backup before the update.
If your site is live, we would recommend creating a staging site (full copy of the existing one), you can do updates there first. If everything is ok then you’ll be able to update the production site.
Regards