If you are running Syslog Director 4.2, it should be updated.
Make sure you are running SSIM 4.5 Maintenance Pack 2.
Log in to the SSIM web configuration page as an Administrator
Select System Updates from the Administration menu. This Link will not be there unless you have applied Maintenance Pack 2 to SSIM 4.5. A clean install of SSIM 4.6 already has this version of the Syslog Director installed.