Hi there.
The 'update required' message in Steam would actually indicate that we're not detecting full game access on the account you're signed in with. This is most commonly seen where Steam has been linked to a Frontier account that doesn't have your original key access associated with it.
If you have a ticket in with us already via https://customersupport.frontier.co.uk/hc/en-us, we should get to your request very soon!
-Luna