You shouldn't need to update. ADE 2.01 on Windows has no problem downloading ePub3 books from Kobo that have Adobe DRM. ADE opens the book automatically after the download, so it can do that, but I don't know if there are other problems when reading in ADE. And I haven't had any issues stripping DRM and adding them to calibre.
But, if you do just use the Kobo app, then it will avoid these issues.
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