Should I update my Bios on Windows 11?

I am trying to decide whether I should update my BIOS on my Windows 11 system, as I have heard that BIOS updates can improve hardware compatibility and fix security issues, but I am also worried about the risks of bricking my motherboard or causing system instability if the update fails. Could someone advise me on how to check my current BIOS version, determine if an update is actually necessary for my specific hardware, and what precautions I should take before attempting the update to avoid any permanent damage?