However, once I perform that action, the Snagit 2023 icon inside the Applications folder (at the lower right side of the Dock) shows the icon for a Snagit.dmg file, rather than the Snagit application icon, as depicted here. (Quick question on above image: why is the Applications folder showing the alias checkmark? My Applications Folder in the Dock is not an Alias nor is the Applications Folder in Finder an alias.)
The Snagit 2023 application dmg software downloads successfully, followed by TechSmith window suggesting dragging the Snagit 2023 icon into the Applications folder, as shown here. Doing an upgrade from Snagit 2022 to the 2023 version on my iMac Pro.