If you want to do a major upgrade (which is the only update method supported by VS setup projects) this still applies:
https://www.simple-talk.com/dotnet/visual-studio/updates-to-setup-projects/
with the addition that now you must update files versions of files that need replacing.
You get Repair/Remove by running the same MSI file again, with the same version etc, but I suspect that's not what you want - it repairs the existing product and doesn't use the new MSI you built.