No, you won’t lose any content, if you have not hardcoded anything.
Files will be overridden after updating the theme
So we would suggest you to take the backup of the theme and site before updating
We are giving you some easy steps to download the updated theme.
Go to My Account page of our site, login with your details and download the updated theme.
Then login to your FTP or Cpanel. Go to wp-content/themes and upload the zip file you have downloaded. First rename the existing theme folder then extract the newly uploaded theme.
Also, you can check this link to update the theme: https://docs.presscustomizr.com/article/141-how-to-manually-install-or-update-a-wordpress-theme
If you need any further assistance please let us know.