Hi,
Thank you for reaching out.
To answer your question: No, you do not need to look for a separate template update in your Joomla update panel.
The Helix Ultimate framework operates primarily through its system plugin. When you update the Helix Ultimate plugin to version v2.2.7, it automatically updates the underlying framework functionality that your template relies on. Because the template itself hasn't received a structural change independent of the framework in this release, it will not appear as a separate update.
Once the plugin update is complete, your system is fully up to date. However, as a best practice, we always recommend clearing your Joomla cache and your browser cache after the update to ensure all framework assets load correctly.
Please let us know if you run into any issues or if you have any further questions!
-Best regards.