Welcome aboard!
I think if you've just purchased SH3 you should have a version that is fully patched and will not need updating (as far as official Ubi patches go).
There have been discussions in the SH3 forum about how best to handle the Steam version of the game when it comes to modding and whatnot, probably a search of that forum for "Steam" related threads and posts would be the best place to start.
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