Hey modular, I know I replied earlier to another thread of yours but let me try to lay it out for you in a less confusing way.
* If you update to the newest firmware online, it will get rid of the black screens but it will stop you from playing any games that are out of region - so for you if you try to play US or Japan games, they won't work even with the Zero's region free feature. Also, 3.2E supports scrubbed discs whereas the newest 4.2E does not without installing hacks, so again if you have scrubbed discs they won't work if you update unless you plan on using homebrew to mod your system anyhow.
If you only have PAL discs that aren't scrubbed, there isn't much to worry about here. 4.2E is fine if that's the case. By the way, a scrubbed disc is a disc that has had some garbage data removed so it can be uploaded and take up less space. It's a bit complicated, but any site will advertise whether the discs are scrubbed or not. Sometimes scrubbed discs are referred to as Trucha discs.
* Your second option is to install an update from a disc, but unless you look it up it's sort of a roulette cause it doesn't announce which version it's installing when you accept the update. The only game that has the 4.2 update is new super mario bros wii, so if you update from any other game you'll be installing 4.1 or a lower version. 4.1 and below all support region free playing, but do not support scrubbed discs after version 3.2 of the system menu. If you want to play discs from any region and only want to play discs that aren't scrubbed, then this is a good idea. The compatibility is fine for now with system menu 4.1 but keep in mind as the Wii continues to get updates it will drop in compatibility.
* Unfortunately, if you want to have everything, you will have to softmod. This may sound contradictory, but you can upgrade your system files (called IOSes) with the homebrew channel to the newest versions (the ones included in the newest system menu 4.2 and still stay at 3.2E with all the benefits of both. This is probably the easiest method for you to follow (the least amount of steps and a big boost in compatibility. Keep in mind, you can softmod without touching a windows program, but some guides are written in a way that requires you to download and patch the wii system files on your pc which can also be done by a program in the homebrew channel. There are options that don't require this.
What you're going to want to do is use the Bannerbomb to install the Homebrew channel (part of the hackmii installer) with the instructions and files at this page. Next, I recommend you follow my guide here using steps 3-9 (the other parts are specific to new super mario bros and to the US version, so just ignore them), making sure to change any reference to US and English to PAL-E and whatever your native language is. AnyRegionChanger installs system menu hacks and updates that allows your system to run almost all new games on 3.2 without needing to do anything on your PC end (other than put the program on the card, of coure.)
Hope that helps.