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according to substrate docs:

To perform a forkless runtime upgrade, Substrate uses existing runtime logic to update the Wasm runtime stored on the blockchain to a new consensus-breaking version with new logic. This upgrade gets pushed out to all full nodes on the network as a part of the consensus process. After the Wasm runtime is upgraded, the orchestration engine sees that the native runtime spec_name, spec_version, or authoring_version no longer matches the new Wasm runtime. As a result, the orchestration engine executes the canonical Wasm runtime instead of using the native runtime in any of the execution processes.

Question: Is there any voting system that decides whether to publish this new update or discard it? if yes then how does that voting works?

Thank you

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Yes, runtime upgrades need to pass by referendum (i.e. voted on by all DOT holders). The majority of stake always commands the network. There is in fact a Referendum right now to upgrade Polkadot to runtime v9250, see: https://polkadot.polkassembly.io/referendum/69

for details or you can vote on it yourself here

for the details of how this works have a look to this doc page

credits: Bill|W3f

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