Update
Material Picker
Warning
Please make sure to follow these instructions carefully. Otherwise there might be errors showing up, then simply restart Blender. Also these instructions can change based on the features of each update, so come back here every time you update Material Picker.
Remove the Material Picker addon from Blender by choosing Edit/Preferences/Add-Ons/Material Picker/Remove.
Follow the Installation instructions and choose the new .zip file.
Enjoy the new version of Material Picker.
Blender Version
In the Quick Setup menu which appears when you update Blender to a newer version,
choose Load x.x.x Settings in the bottom left corner.
Then the Add-on including all of your preferences will be available same as in your previous version.