Before you do anything you should understand where all OpenCPN stores files:
C:\Program Files (x86)\OpenCPN
C:\ProgramData\opencpn
C:\Users\[username]\AppData\Local\opencpn
And also where ever you choose to keep your charts.
So before doing anything that might corrupt the copy of OpenCPN you wish to archive, you should backup those locations.
The "portable" option causes OpenCPN to instead of using all of those locations to keep all of it's files in a
single directory, which you can choose. If you do not use the portable option then both copies of OpenCPN will share the same data locations. I would probably convert the version you wish to archive to a portable version, which you can then move to a USB (and then run on any computer you want) and also make a backup incase the USB is damaged or
lost. In converting to a portable version, I would copy the above locations to the portable version, leaving the original location intact.
Then once the portable archive version is working as a portable version(to be sure I would test run from the USB on a different PC), do a regular install of the new version. That would then upgrade the original OpenCPN and keep all the saved data.