How important are BIOS updates?

I've been experiencing several minor issues, including Bluetooth errors, shutdown inconsistencies, and even computer crashes for seemingly no reason. I've tried several fixes already, including driver updates, windows updates, corrupt file scans, and other pc health checks. How necessary are bios updates? Could outdated bios be what's causing the issues?

UPDATE: I successfully updated the bios, my performance is noticeably better and I haven't noticed issues since. Thank you for all the replies!