The update is new remastered content for episode 3. There is no new content beyond episode 7.
I'll recommend having 2 sets of saves. I have one set of "old saves" from ep4 to ep7, and another set of "new saves" from ep1 to ep3. In my case, old saves start at page 21, new saves at page 1. Each time a new remastered chapter is complete, I delete their correspondent old saves. This way, when episode 8 get released, I continue from my old saves of episode 7; when a remastered episode 4 get released, I continue from my new saves of episode 3.