The video in the SK is still somewhat relevant even to the Cloud managed version.
What I'd like to mention though, depending on the size of your organization, it's strongly recommended to segment your upgrade into groups.
If you simply move up the version on your "Entire Organization" deployment rule you'll likely end up overwhelming your WAN links.
This is an issue with the on-premise solution, causing trouble at the LAN level in some cases but as you can imagine, the problem is even greater when piping all that traffic to a likely more limiting WAN pipe.