If you get a hosting machine of your own, it will work independently, so it'll have its own Os and you can later install server side programs directly or script-driven internet sites via a hosting Control Panel. Even though keeping the Os updated is not always considered fundamental, it can be a quite important task for several reasons. A newer OS version could have better support for specific hardware, so you could get better performance for the internet sites and web applications you install. Your server shall also be more protected as updates usually include security patches that deal with small problems that may enable unauthorized people to access your content. Last, but not least, current script versions, which are also released for both boosted security and for additional features, may require a later version of the Operating System in order to work properly and with their 100 % capabilities.