Can I update an active plugin with a new version that I have downloaded on my computer?

Please help! I have a new version of the plugin which is currently active and installed on my WordPress website. The new version plugin (zip) file is with me and WordPress is not allowing me to upload it. gives me "duplicate" error. How can I manually update this plugin with a new advanced version? One option is to delete the old version and then install a new version. But Im afraid to risk all my data which this plugin has and it doesnt have "backup data" option. (P.S. Its an event organizer plugin)

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