First time install of the application

Do I understand it correctly if I say that:

1. The initial installation of the application is done using a regular installer as built by Visual Studio Installer project

2. The in (1) installed application will install updates using the Wy software?

Or does Wy also include a first time download and install feature?

1 & 2 are correct.

>> "Or does Wy also include a first time download and install feature?"

Not currently. See this for alternatives: https://wyday.com/wybuild/help/walkthrough.php