1.) Yes, we are running multiple servers. Not only Conan but also other games use that SteamCMD to update. We've got a regular server and then a test server for Conan. Now that I think about it the update.bat files are specially named too.
2.) No, that file does not appear to exist in the steamapps folder. I looked at the subfolders in there as well.
I am a little bit nervous right now too because instead of just setting up a fresh server I'm going to be cloning an existing server with player, clan, and item files and using your utility to manage. I'm not sure if I should set up the server with the utility from scratch and move over the saved file or apply it to an existing server.
Thank you SO MUCH for your help!