I reactivated an old system, it has an activated Win10Pro with the most recent patches installed and an old installation of TDM, release 2.03.
I tried to run tdm_update.exe both as user and admin, but it seems to cycle through updating the same file over and over. I always get to the point depicted in the attachment.
This is not so much a call for support, I have a working 2.05 installation I could copy over, it is more meant as a bug report.
stuckupdate.png 22.62KB 0 downloads