You should be able to install several minor updates side-by-side.
The installer supposes to provide you an option, please see attached screenshot. If you do not have such screen installing next update, please let us know and we will investigate the problem.
The versioning problem you have described is a back side of the product bundling when the focus is moving from standalone to set of products. So it was a decision to remove standalone versions from install location.
Please let us brainstorm for a possible workaround for your framework.
Currently we are providing per component information in text files:
Could you reuse it? If NO, what version format is suitable for your framework?