As a user, I want to update KeePass without disrupting my work.
Currently, I'm only aware that a new version of KeePass has been released when I open the application in order to use it. This is not the time that I want to close the application, download a new version, and wait for the install. I'm most often in the middle of something else - trying to create an account or login to a site in order to accomplish a goal. The release notifications are disruptive and I usually end up dismissing every day for a week before I have the space to do the actual update.
Another open source application - Paint.net - allows the user to "Install upon exit." The new version notification appears on launch, but if the user selects "Install upon exit" they can stop tracking the new version and also not disrupt their current work. When they close the application, it notifies them that the update will occur. Then it performs an auto-download and installs. Even if KeePass did not do the auto-download, a notification to "remind me on exit" would greatly improve the flow and prevent me from saying "damn it, KeePass!" so often. ;)
KeePass does not have an automatic install option. For such a critical app I prefer the manual approach, especially as there have not been any security bugs that need to be patched.
Remind on exit would be much less usefull because KeePass is usually left running and a shutdown notice would be hidden by a machine shutdown,
As the KeePass update cycle seems to be about 6 monthly, you could turn off the update check and add a calendar item to check manually.
cheers, Paul