During the update process at some point I want to store the latest version.
Currently I perform this like:

  WebUpdate1.LastURLEntry.Save := True;

But when the update failed I don't want the latest version to be saved, because then the user won't get another chance to update the application.

Is there a way to save the latest version only when the update is succesful? In what event should this be set?

The purpose of LastURLEntrySave is to have redirection at some point to a different branch where the app needs to look for updates. It is not related to saving old/existing versions.

If the update for some reason fails, then the app won't be updated, hence, a new update process can be started.