Hi ,
As you have to update the JVM you need to user the SUM tool to update the java now.
download the sum tool from service market place.
Uncar the tool.
Then run the tool . Select the system details. In the tools it will ask you to select the xml file or directory for the patch you want to update. please use directory option. Place the JVM update file in the directory.
Please also check if JVM is read by JSPM in your system if read you can update it using JSPM tool also.
Please refer to the below note.
Note 1133020 - How to import a SAP JVM patch into an AS Java
Thanks
Rishi abrol