In my experience, updating gitlab involves looking at either the docker hub page with the tags or that gitlab news page that I'm trying to find right now and then painfully going from minor to minor.
If you update every week you're probably fine, but if you skip a version some database migrations might not work and then the real fun begins.
My only annoyance with GitLab on that front is the lack of tags for "14.8-ce" to enable use of watchtower to keep the minor/security patch up to date, like we have on other images.
I definitely do not want to use "latest", in the past there have been updates or intervention required between major versions.