With this update MAGIX is completing the transition phase following the official acquisition of the majority of Sony Creative Software products.

Important note:

Due to existing agreements with our Russian and Japanese distributors, we no longer offer full Russian and Japanese language versions.

For this reason, customers who already have installed a version of the program from Sony Creative Software, won't get the update automatically.
The following post describes how you can install the update manually: Steam Forum

The previous version can always be restored after installing the update.
This is described in this post: Steam Forum