Nginx module security

Im considering using this nginx module https://github.com/leev/ngx_http_geoip2_module to get the Information from which Country the IP is.
My question is since im compiling the module by myself, how secure is it if i’m not keeping up with the current version. I’m not a specialist here, so if i’m having an outdated module is it maybe a security risk for the machine or is it not that important since it is an "internal" module which only reads the contents of the maxmind database? The database is on the server itself.