Read this before updating to 18.5. As a general rule, whenever moving to a new version number, back everything up in case you have to completely revert the boot drive back to the way it was. We've never had to do it, but... stuff happens.
Here are the steps I recommend for people upgrading Resolve (and this has held for several years):
1) launch your existing Resolve version and back up the Project Databases using the backup utility
2) export Keyboard Shortcuts
3) export all personal PowerGrades as DPX stills + DRX grades to specific folders (and LUTs if you must)
4) jot down Project Config and User settings (in case those don't make it over)
5) jot down Data Burn-In settings
6) jot down Custom Export settings on Deliver page
7) jot down custom Power Window presets
9) backup 3rd-party/custom LUTs
10) export all custom PowerGrades (with labeled stills) to a folder
11) de-install any 3rd-party OFX plug-ins (BorisFX, Sapphire, Dehancer, Beauty Box, Filmlook, Neat Video, etc.), and have the serial numbers ready when you install the new Resolve.
12) important: backup all current in-progress sessions as DRP files "just in case."
I think it never hurts to do a complete backup of your boot drive so you could theoretically do a full restore and go back to Resolve 18 if need be. It is possible to run both versions at the same time if you had separate boot drives, Resolve 18 on one and Resolve 18,5 on the other, and used separate Project Databases, but the setup is tricky (and critical). You can at least use the Project Database as long as you don't open up an old project, which will ask if you want to convert it (one-way only) to the new 18.5 format.
When you install Resolve 18.5, be aware that you may need to also update the Desktop Video driver, and you may need to update your GPU video drivers. As with any modern software, there's a chance your current hardware may not be enough to run 18. Check the ReadMe files and Documentation on Blackmagic's support website and make sure your CPU, available RAM, GPU, and drive speeds all meet their recommended hardware configuration specs. My opinion is that when it comes to Resolve, more and better hardware is generally a good idea.
Here are the steps I recommend for people upgrading Resolve (and this has held for several years):
1) launch your existing Resolve version and back up the Project Databases using the backup utility
2) export Keyboard Shortcuts
3) export all personal PowerGrades as DPX stills + DRX grades to specific folders (and LUTs if you must)
4) jot down Project Config and User settings (in case those don't make it over)
5) jot down Data Burn-In settings
6) jot down Custom Export settings on Deliver page
7) jot down custom Power Window presets
9) backup 3rd-party/custom LUTs
10) export all custom PowerGrades (with labeled stills) to a folder
11) de-install any 3rd-party OFX plug-ins (BorisFX, Sapphire, Dehancer, Beauty Box, Filmlook, Neat Video, etc.), and have the serial numbers ready when you install the new Resolve.
12) important: backup all current in-progress sessions as DRP files "just in case."
I think it never hurts to do a complete backup of your boot drive so you could theoretically do a full restore and go back to Resolve 18 if need be. It is possible to run both versions at the same time if you had separate boot drives, Resolve 18 on one and Resolve 18,5 on the other, and used separate Project Databases, but the setup is tricky (and critical). You can at least use the Project Database as long as you don't open up an old project, which will ask if you want to convert it (one-way only) to the new 18.5 format.
When you install Resolve 18.5, be aware that you may need to also update the Desktop Video driver, and you may need to update your GPU video drivers. As with any modern software, there's a chance your current hardware may not be enough to run 18. Check the ReadMe files and Documentation on Blackmagic's support website and make sure your CPU, available RAM, GPU, and drive speeds all meet their recommended hardware configuration specs. My opinion is that when it comes to Resolve, more and better hardware is generally a good idea.
Certified DaVinci Resolve Color Trainer • AdvancedColorTraining.com