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Are you a FULL Creative Cloud subscriber?
Like heathrowe says, Edge Animate 1.5 was the last free version of Edge Animate. You will have to purchase a subscription to use the latest version. If you do have a subscription, log out and re log into the Creative Cloud. If you still don't get the prompt for an update, let us know.
If you scroll a bit in your Creative Cloud app, you should see another version of Animate which says "Install". Animate installs a bit differently than the other CC apps which is why you don't see "Update" (we're working on fixing this on our end).
Alternatively you can go to https://creative.adobe.com/products/animate and download the latest version from there