No, they won't update automatically which is good. If they did you would loose any customization such as individual instances being taller reverting.
Select the CP instances you want to update and click in the Profile Manager the Apply to Selection button.
Erika
Architect, Consultant
MacBook Pro Retina, 15-inch Yosemite 2.8 GHz Intel Core i7 16 GB 1600 MHz DDR3
Mac OSX 10.11.1
AC5-18
Onuma System
"Implementing Successful Building Information Modeling"