Yes. Download the new APK and install over the old one. Your chats will typically remain intact, but always create a backup first.
Before downloading and installing FM WhatsApp V14.11.1, please note the following:
If you're tech-savvy and understand the risks (ban, privacy, malware), FM WhatsApp 14.11.1 works smoothly on most Android devices. For average users, stick with the official app.
However, the "download" part of the story is where things get complicated. Since FM WhatsApp is an unofficial app, it is not available on the Google Play Store.