Installing Resolve 17 Studio

Hello All,
We are pretty new to Resolve, but have decided to upgrade to the Studio version and we have a few questions on installing it before it arrives.
Do we have to de-install the free version beforehand and, if so, what happens to our existing projects created within the free version? Is there some kind of backup folder which remains which is accessible by the Studio version?
Any help would be appreciated.
We have Windows 10 Pro.
Regards
Andrew
We are pretty new to Resolve, but have decided to upgrade to the Studio version and we have a few questions on installing it before it arrives.
Do we have to de-install the free version beforehand and, if so, what happens to our existing projects created within the free version? Is there some kind of backup folder which remains which is accessible by the Studio version?
Any help would be appreciated.
We have Windows 10 Pro.
Regards
Andrew