I don't think this particular problem is patch related, but the patch will add a second quicksave slot (and you can increase that number) and various technical fixes, so it would be a good idea to install it anyway.
The patch will work fine with existing saves, though some of the fixes and changes only apply to new games. For example, in an unpatched game Finnigan's magic lockpicks (a quest in Verdistis) will break if you use the Lockpick skill with them in your inventory, and will disappear if dropped on the ground. These lockpicks should be unbreakable, and give you an agility boost while in your inventory. If you install the patch after they break, they will be placed back in Commander Kratus' desk, to be re-stolen. If you install the patch after the game is started, the magic lockpicks will no longer break (so you don't have to carry around a stack of normal lockpicks), but will still disappear when dropped on the ground. In either case, you have to choose between returning the magic lockpicks to complete the quest, or keeping them to use yourself. If you install the patch before starting the game, the lockpicks will not break and can be safely dropped on the ground. You can also complete the quest, and then buy them back from Finnigan.
