Here are the following steps to update local VM of D365FO to latest version.
1. Go to LCS: https://lcs.dynamics.com/
2. Click on the Shared Asset Library button OR you can go to Asset Library of Project
3. Select Software deployable package and download latest update (you can also view details of package from right side).
4. After download move package to any folder (create new folder) of C drive where local VM is setup
5. Make sure to unblock zip file from properties before extract deployable package to folder
6. After extract deployable package to folder open Command Prompt (cmd) with administrator in that folder.
Close all the instance of Visual Studio. Now run the following command one by one with sequence
i. AXUpdateInstaller.exe generate -runbookid="OneBoxDev" -topologyfile="DefaultTopologyData.xml" -servicemodelfile="DefaultServiceModelData.xml" -runbookfile="OneBoxDev-runbook.xml"
ii. AXUpdateInstaller.exe import -runbookfile=OneBoxDev-runbook.xml (In this step it may ask Y/N, then press Y/y)
iii. AXUpdateInstaller.exe execute -runbookid=OneBoxDev
It will take approximatly 2 hours to complete 17 steps. Once its completed, open the environment and you will see that its updated. Enjoy :)
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