Yes, it is always a bad idea to ignore updates, as this will make your server vulnerable to known exploits / zero-days (And by the way, it is possible to revert an update in linux).
Your considerations are exactly the reason why the choice of the linux distribution is important in the first place. If you stay at a specific version (lets say ubuntu 22 LTS for example), the updates available to this distribution are only bugfixes and security updates, so that it is guaranteed (more or less), that any call to a function published by any library will do the same before and after the update.
Choosing a LTS version (Long-Term Support) will ensure that your version will receive updates for a longer time-span, because doing a distribution update can be cumbersome. Every Distributor publishes its release plan, which gives you the EOL date for that distribution (after this date, you have to perform a distro-upgrade to continue receiving updates).