App Updates load as new programme

You might make sure the "Auto-update" switch is turned off in the Creative Cloud desktop app / Preference/Apps, so you'll have the opportunity of installing when you want, and a chance to replace or keep the previous version.

This in the normal procedure for full version updates.  When you install the update, there is a dialogue that should come up which asks if you want to delete old versions.  If you check it "yes", then, for example in this case, 2024 would have been deleted when 2025 was installed.  By default I leave mine off.  

In the long run, it is often smart to keep old versions around in case you ever need to use one for an old project.  Adobe only permits the two most recent versions to be downloaded later, meaning that if, for example, you wanted to open up Premiere 2020 in order to digitize some old footage from tape, you wouldn't be able to install it unless you still had it installed.

So, up to you, but I generally keep old versions installed indefinitely.  You never know when they might remove some obscure old feature and down the road you suddenly need it for something.