Yes it will provide update ,
But you might face problem in feature as if SEP 12.1 Ru2 client request full zip Through GUP server when you have different version installed, will failed to update the client.
As best practies please setup the content revision in SEPM please check this article
Best Practices for configuring the number of content revisions to keep in Symantec Endpoint Protection Manager
Article:TECH92225
Article URL http://www.symantec.com/docs/TECH92225