After downloading, you need to install Flash Player by double-clicking the file you downloaded.
Also, please go to the following link and let us know the version of Flash Player installed on your machine: http://helpx.adobe.com/flash-player/kb/find-version-flash-player.html
I had the same issue with the install timing out. Very annoying, so I just didn't install, but kept getting message to update. So I googled and found this forum, in the answer is a link for Flash Player for ActiveX (IE). This downloaded 11.4.. immediately. Now if we can get Adobe to correct to update popup link. Thie link is at forums.adobe.com/message/4630154. Hope this helps.