At the time of writing, there is no way to make FMOD Studio automatically check for updates, but it is possible to get notified of new versions via e-mail.
Most users like to “lock down” on specific versions of each piece of middleware they use, as changing versions during a project may result in incompatibility issues. While such issues are rare, they can sometimes occur when working with unusual content or formats. Most users therefore only check for new versions of FMOD Studio between projects, or when they discover they need a feature not available in the version they’re using.
If you want to be automatically notified about new FMOD Studio versions, you can do so by signing up to our newsletter. Just enter your e-mail address into the field on this page: http://www.fmod.org/