[Add] Error handling for update method in OSS & platform code.

[parshvadaftari]

Description

This PR introduces improved error handling in the update method. If a memory_id does not exist, it now handles the situation gracefully without displaying an error. This change enhances the user experience by preventing unnecessary error messages.

Fixes #xxxx

Type of change

Please delete options that are not relevant.

• [x] Bug fix (non-breaking change which fixes an issue)
• [x] Refactor (does not change functionality, e.g. code style improvements, linting)

How Has This Been Tested?

Please describe the tests that you ran to verify your changes. Provide instructions so we can reproduce. Please also list any relevant details for your test configuration

Please delete options that are not relevant.

• [x] Unit Test
• [x] Test Script

Checklist:

• [x] My code follows the style guidelines of this project
• [x] I have performed a self-review of my own code
• [x] I have commented my code, particularly in hard-to-understand areas
• [x] I have made corresponding changes to the documentation
• [x] My changes generate no new warnings
• [x] New and existing unit tests pass locally with my changes
• [x] Any dependent changes have been merged and published in downstream modules
• [x] I have checked my code and corrected any misspellings

Maintainer Checklist

• [ ] closes #xxxx
• [x] Made sure Checks passed