I always rename the previous Local version before upgrading. I just renamed my current to Local by Flywheel 2.3.3.app and when I upgraded to 2.4.1, it overwrote my previous 2.3.3. Now I have nothing to revert to if needed. (So, this one better work.)
Also, the in-app (2.3.3) update became quite confused. I got “Are you sure you want to quite Local - all your local machines will be closed?” like 4 times.