If I say no Ive updated drivers 1000's of time with very few problems then you can be sure you will have a problem, so I wont say it
Seriously though, updating a driver shouldn't cause you any problems, the graphics card driver update is probably the one where most things can wrong, but these problems are usually down to not un-installing the old driver first or downloading the wrong driver. Ive never killed a computer by updating the graphics driver, sure the screen resolution can look pants until you sort it out but thats about it.
Basically drivers tell the main processor what the piece of equipment is, what it does and how to talk to it . Newer versions of drivers improve on this and this can make newer games run faster or in your case just run.
Please dont confuse updating drivers with updating BIO's, updating BIO's can brick your computer if you dont do it properly.