Hi,
as MahGah already mentioned it depends on the infrastructure you want to use.
Also it is very important in which country you are operating, because there exist a lot of country specific addons, e.g. for payroll or other things which are different in different countries.
We, as a partner for customers in Germany, Austria and Switzerland, have several customers who are working with the on-prem version of Business Central. In this case there are no automated updates or upgrades. For this must have a partner or a in-house IT-specialist or Consultant. We have also some partners who are working with older version of BC on-prem because the half-year-updates are not implemented all the time and so some versions are skipped.
For using the SaaS-Version in the cloud the infrastructure is not the case. As MahGah mentioned you can schedule the updates from within Admin-Center. But you also cannot pause an upgrade because Microsoft automatically puts cloud customers to a newer version within a fixed period of time.