It is recommended to create a backup of your files and database before starting any updates – https://www.8theme.com/demo/docs/royal/Theme_Update.html to be able to restore the site to the previous state if something goes wrong. Or you can create a staging site (full copy of the existing one) and do updates of the theme and plugins there first. If everything is ok then you’ll be able to update the production site.
Install the royal core, but most settings are gone. A few is back like the static block footer.
Products display settings and price range does not appear on pages. It only visible in single page product.