Hi Holden,
Thanks for writing in! For the latest version, you need to install Cornerstone but you can still use Visual Composer. So if you are using X Shortcodes, you need to remove this and install Cornerstone.
I’d suggest you to use a staging server to update your site so that you can take care of the issues after update (if you face any). When you are done then you can proceed to your live server. Don’t forget to take a full backup of your current site.
Hope this helps.
Cheers!