Yes you should, be advised, the interfaces for email and workflow scan will change, and the update will ask you if you want to install the Xerox App gallery (think iTunes but for a printer, it will give you the ability to download apps, so you can scan direct to Office365,dropbox etc etc)
This is a new generation of firmware, so you run this file from your desktop (don't send it to the printer), it will patch and upgrade as needed so that you do not lose your settings, it will also repair the fact that your devices currently will fail if you attempt to Airprint.