How can I update a plugin?

I am thinking of creating plugins with different Master Materials to use in my projects.
But if I for some reason need to make a change to the any of the master materials, how can I update the mm in the other projects without having to redo to change in every project?

My dream scenario would be to make a update to the plugin and the in some way chose “update plugin [name]” in the other projects. I have been searching and searching but I have not found something like that (or even close to). There are only tutorials and documentations on how to create plugins, but not for creating new versions/updating plugins.