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Originally Posted by eschwartz
Shouldn't you be able to delete the book from MYK, then re-borrow the latest version?
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You don't delete books from Kindle Unlimited, you return them. When you do this Amazon keeps information about the book in your account in case you purchase it or borrow it again later. This is from Manage Your Content and Devices:
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Return Loan Confirmation
Title: Darkness There: Selected Tales by Edgar Allan Poe [Kindle in Motion]
Author: Edgar Allan Poe
When you return a book it will be removed from your Kindle. Your notes and furthest page read will be saved for you should you wish to read it again in the future.
Are you sure you want to return this book?
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They don't state it explicitly, but through my own testing I have determined that they also make sure that you receive the same version of the book, even if it was updated by the publisher in the mean time. This assures that you can pick up exactly where you left off.
[I have even found that if you delete a book that you have purchased from your account and re-purchase it again later (as you might do with a free book) Amazon gives you the version of the book that you purchased originally. However, if you lend a purchased book to someone else they receive the latest version, no matter what version you have in your account.]