Update Theme and Plugins from Zip

Since WordPress version 5.5 this plugin is no longer needed, you can simply upload the zip file of a theme or plugin and WordPress will allow you to overwrite it.
Update Theme and Plugins from Zip File
WordPress plugin

Update Theme and Plugins from Zip File is a good quality of life plugin that allows to update/roll back your current theme or plugins by simply uploading them as if they weren’t already installed.

By default WordPress doesn’t provide such functionality – when you upload a .zip file for a plugin that is already installed it won’t overwrite it and will say that the plugin already exists, even if your file contains a different version of the plugin. Deleting and uploading an unzipped folder via FTP can take substantially more time.

This plugin also allows you to enable an option to save a backup copy of the old version which is always useful. If the new version breaks something you can easily retrieve the .zip file of the earlier version from your wp-content/uploads directory and upload it again to effectively roll back.
This option can be enabled from WordPress admin dashboard -> Settings -> Update Theme and Plugins from Zip File. The backup files will be added to your WordPress media library.