Verify latest release

• I verified that the issue exists in the latest pnpm release

pnpm version

10.26.0

Which area(s) of pnpm are affected? (leave empty if unsure)

CLI

Link to the code that reproduces this issue or a replay of the bug

https://github.com/Oren-Exon/pnpm-update-issue

Reproduction steps

1. have a pnpm catalog that specifies ~version
2. run pnpm update

catalog version is overriden with ^version

Describe the Bug

should not override the catalog update-policy (keep "~version")
I could only reproduce this behavior in catalogs>[catalog]

Expected Behavior

should not override the update-policy

Which Node.js version are you using?

v23.10.0

Which operating systems have you used?

• macOS
• Windows
• Linux

If your OS is a Linux based, which one it is? (Include the version if relevant)

No response