Updating powershell from 5.1 to 6.1

Solution 1:

Is it possible to update powershell to its latest version in my computer?

PowerShell 5.1 and PowerShell (Core) 7.2 can only be concurrently installed. All past, present, and future PowerShell Core releases can be found on its GitHub page here. All you have to do is install it with the MSI file for the release you want.

I'm a bit surprised because I've periodically run the Windows 10 updates several times since I got this computer.

PowerShell Core is not yet a feature of any version of Windows and must be installed manually by the end user. The differences between PowerShell 5.1 and PowerShell Core are documented by Microsoft here