I thought that deleting and then re-installing/activating the theme would have fixed the update error.
Can you please try the following steps;
Go into ‘Appearance’ > ‘Theme License’
Click the ‘Deactivate License’ button and then ‘Save Changes’
Remove your license key and click the ‘Save Changes’ button
Re-enter your license key and then ‘Activate License’ followed by ‘Save Changes’
At the next theme update, if you still get an error message when attempting to update the theme, please let us know.