No this update it's only for the aircraft and for the batteries. So first update the aircraft and then all your spare batteries! Download the correct file for your craft!
When successfully finished the aircraft update then turn off the craft remove the first battery and insert the next battery and switch on the craft. The update will start it and will finished after 3-5 minutes. Personally after every update remove also the SD card and copy to my PC the two logs txt files with updates descriptions. So after finished with craft updates read and copy the log txt files and then continue with update of the next battery.
See also