Yes, you'll need to update in order to apply this fix.
It looks like you are affected by other issues (that have been already fixed) as well. In the latest release, the Gantt chart renders with a correct height in the Parent100Pct mode.
Generally, the API is backwards compatible but some changes are introduced from time to time. The releases with API changes are marked in the history:
https://javascript.daypilot.org/history/
See the individual version notes to find instructions on how to revert to the previous the behavior.
If you experience any problems during the update, you can post a question here in the forum and I'll try to help.