In case of ESXi (embedded) you can apply the latest patch of Firmware, gives the latest changes, here you might not get the latest tool fixes, you might need to apply latest update release to the system to get the latest tools if requried.
In case of ESX, its good to install Latest update release first and then apply all patches that has been released after the latest update release.
if you have update manager, it will be easy to resolve the obsolution and coming to latest Code level would be easy
Thanks
Nithin