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You extract the save files and move it into the new updated folder.

What they said, just to also add that it's always good to back up everything when you update if you are uncertain (or just in general).

You usually don’t have to worry about that since Ren’Py stores saves in two different places.

The places in question are as follows:

• C:\Users\<<user>>\AppData\Roaming\RenPy\Testgame-1635123618
• <game install directory>\game\saves

The former is shared across all open instances of Goddesses’ Whim, and is potentially used by the Ren’Py Sync Server when moving saves from 2 entirely different devices.

TL;DR: You don’t need to worry about transferring saves (usually) when updating.