If you get a hosting server of your own, it will operate independently, so it will have its own Operating System and you could later install server side apps directly or script-driven sites through a hosting Cp. While keeping the Os updated is not always considered fundamental, it can be a really important task for a variety of reasons. A newer OS version could have better support for certain hardware, so you may get better performance for the sites and web applications which you install. Your server will also be more secure since updates often include security patches which take care of small problems that may allow unauthorized individuals to access your content. Last, but not least, more modern script versions, which are also released for both improved security and for additional features, may need a later version of the Os in order to work effectively and with their 100 % capabilities.