Why do I have a UE4 4.0 and 4.1 folder after update?

After installing the update to 4.1 i now have 2 folders. UE4.0 and 4.1.
Can i delete 4.0 without getting any problems?

And what about all the Market place things? Do i have to download them again?

Hi dre1,

The engine keeps the previous version in case you have any errors with your project in the new version and need to make changes.

If you wish to uninstall the older version, you can do so from the Launcher. Just select the older version from the dropdown menu, and click the Uninstall option below the Launch button.

Your downloaded projects still exist, they are just flagged as being for version 4.0. You could download all new ones explicitly for 4.1. Or you can just Launch the editor in 4.1, open the project you want from the Project Browser, and when it loads there is a pop-up message in the bottom-right corner that says:

Update project to open in this version of the editor by default? [Update] [Not Now]

This does update the project, however the Launcher currently does not update to reflect this change, and it does not appear in the list. This is one of a few workflow and UI issues we intend to address soon.

I hope this helps.