There is logic to not updating, just as there is with updating. If the specific updates do not address issues that concern or affect you, you may not want to update. I'd consider a security fix a pretty important reason to update. Just realize, there is some risk and do follow the guidelines for updating so as to not brick your computer.

That said, some of the most useful steps I've taken to improve my Nitro 5 are/were;

Enable CoolBoost within Predator Sense/Acer Care Center (whichever yours has). This boosts fan RPM at higher temperatures, improving cooling.

I use Intel Driver & Support Assistant to keep most drivers up to date. There is also Intel SSD Toolbox which lets you update storage firmware. 

HWiNFO64 is a useful tool to keep an eye on temperatures and power limits/throttling. This begins the rabbit hole of performance hunting and tuning; if you're interested browse the guides in my signature for overclocking steps. If not, move along.

Take a good amount of time and review the entire 'Settings' area of Windows 10. Basically, I disable many things that I don't use. Cortana, search bars, included apps, etc there is much to review. Uninstall any program you don't specifically want or use, like manufacturer installed trials and games.

I use a program called OOSU10 to disable a lot of the privacy/tracking within Windows. - https://www.oo-software.com/en/shutup10

One last thing I do is within the Device Manager. I will right-click > 'Update driver' on every piece of hardware in the list. Yes, every last one. This is mostly unnecessary unless you are trying to fix some driver problem. However, I have found this method reveals a lot of updates and keeps my hardware working fine. You'll eventually run into a driver install that requires the 'Have Disk'/.inf install method so its good to be familiar with the Device Manager.