Macos doesn’t have any special ability to run other applications or OS apart from using virtualization to install windows or Linux guest OS on macOS host machines. Boot Camp makes permanent changes to your disk, so virtualization is usually easier to free up space than running windows on Mac hardware directly.
However, using the
dd tool or Disk Utility is a sure fire way to take an ISO image file and push it to a USB drive or read a drive into an image.
You’re likely going to need windows to run those tools (or figure out how to extract the drivers and analyze how the resulting image is laid out on disk), so if you can rent / borrow a PC or use a windows trial license on the Mac - this is more about what’s most convenient for you to reach your update goal. Im certain with some extra details, there are people here that may be able to nail a command to extract the file and dump it on a USB without needing to do all the work I mention, but these are general options to get any installer running.