The best way to update python is by using the installer.
Go to this site, where you will find the required installer for your Windows system and then download the latest version of python.
Run the installer file that we downloaded and go through the next steps. Since you already got an older version of python installed on your machine, you will be prompted to update it.
Point to note: pip is used to upgrade python packages, not python itself. So using pip install python is wrong