At the time of writing, there are 3 different sdkmanager binaries after updating.
$ANDROID_SDK_ROOT/tools/bin/sdkmanager --version #=> 26.1.1
$ANDROID_SDK_ROOT/cmdline-tools/tools/bin/sdkmanager --version #=> 3.6.0
$ANDROID_SDK_ROOT/cmdline-tools/latest/bin/sdkmanager --version #=> 4.0.0

At the time of writing, there are 3 different
sdkmanagerbinaries after updating.