Since the game has no DLC, "updating" usually means applying a cheat-modified save or using CWCheat/TempAR to unlock all characters/Z items.
On PSP memory stick:
ms0:/PSP/SAVEDATA/ULUS10235/ (US version)
ms0:/PSP/SAVEDATA/ULES00753/ (EU)
ms0:/PSP/SAVEDATA/ULJS00098/ (JP) dragon ball z shin budokai 2 psp iso save data upd
On PS Vita (Adrenaline):
ux0:/pspemu/PSP/SAVEDATA/ULUS10235/ Since the game has no DLC, "updating" usually
If you are playing on an actual PSP console, installing a downloaded save file requires a USB cable and a memory stick. Disconnect: Safely remove the USB and load the game
Whether you are playing on a real PSP, a PS Vita, or a modern smartphone/PC using the PPSSPP emulator, the installation process is nearly identical. The file extension for PSP save data is almost always .SAVE or simply a folder containing specific files.
A concise, practical feature covering three main user needs for Dragon Ball Z: Shin Budokai 2 on PSP:
Dragon_Ball_Z_Shin_Budokai_2_Another_Road_USA_PSP-PSPKiNG.iso