Currently, running rustup update updates all toolchains and then runs self update.
It might be wise to run self update first, to pick up
- possible changes in the metadata format,
- security fixes for downloading,
- new compression options,
- and other improvements
as soon as possible and use them for updating the toolchain.
One difficulty might be that rustup will need to restart itself/start the new version when there was an update before running the toolchain updates.