Active Roles 7.0.3 is a maintenance release, but is also a full release on its own.
If you are upgrading from a 6.x version, follow the standard upgrade procedures as noted in the included Active Roles Admin Guide.
If you are running Active Roles 7.0.2, you can perform an in-place upgrade. Please follow the steps below.
See the attached PDF for further details.
NOTE: If you also have any additional components installed, such as Active Roles Collector & Report Pack and Add-On Manager, you will also have to update them separately.
To do so, the installers can be found in the installation media under Solutions.