Unable to update dbt Cloud CLI

I am currently using dbt Cloud CLI, but recently ran into the following warning when running any dbt commands in my IDE (using VSCode):
WARNING: version 0.40.3 of the dbt Cloud CLI is now available. As of now, old versions are not actively supported - update now!

I have attempted to follow the instructions here for Windows. I downloaded the latest exe and replaced the one I have in a C:\Program Files\dbt folder. This directory is also added to my local user PATH environment variable.

But after doing this, when I restart VSCode and run another dbt command, I still receive the exact same error, as if it never updated.