MSI has a feature called "Live Update", it is on this link. I've never used it, because I have a 'boot disk'.
Perhaps 'Live Update ' is the better way to do it, I don't know, you can check it out on the MSI site.
'Flashing your BIOS' is risky, and they tell you don't do it if your system is running ok........ see link......... FWIW.
The up-dated BIOS downloads explain the function of each version, so you have to decide which one is best for you.
* If you are not sure........... Don't Do It.