No, that isn't the latest version. You can download the
patch to update to 1.4.9.70, then get the
Dragon Knight Saga DRM free patch.
Alternately, depending on what version of the game you have, you may be able to upgrade to the Developer's Cut version of the game from the
Larian Vault; see
here.
D2:DC is essentially DKS with an optional Developer Mode cheat menu. This includes the usual stat / skill / item / equipment cheats, and lets you spawn opponents, teleport, transform your character into many other character models (so you can fly around Broken Valley before actually becoming a dragon knight, though you can not attack opponents when transformed), etc. There is a video about it on the
Divinity Anthology site.
