Hi,
The latest Adobe AIR runtime version is 18.0.0.199 that means you already have the latest version installed on your system so you dont have to update the Adobe AIR as of now. Maybe the application that you are trying to open have some issues. Can you please try to run any other AIR application on your machine and see if it works or not? I am attaching a sample AIR application which you can run. Dropbox - Test.air
Please let me know if you face any issues,
Regards
Varun Bhal