LSWS has auto update feature built-in which checks update daily (configurable). Once a new version is ready, you should see a download/upgrade link to the new version in Version Manager (Web Admin Console -> Actions -> Version Manager ). Just click it.
You also can do upgrade manually. This happens when a new version is available but autoupdate is not and you do not want to wait. Just download a new web server version package from LiteSpeed website, unpack it, run the upgrade script (install.sh). the usually install location is /usr/local/lsws.
