All the updates are submitted through the Envato profile.
The Envato marketplace takes sometime to approve the update sent to them. This may take anywhere between 24 -72 hours and even more depending upon the queue of updates of products they have.
So, in such situations you won’t be able to download the latest version of the plugin through your Envato profile. The only way to update the plugin is through the dashboard.
Note: Once the update is approved by Envato, you will be notified through email. You can then try downloading the plugin and updating it manually.