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Load balancing does not increase available bandwidth, meaning that it does not split packets through different interfaces, thus the speed is not increased. Load balancing simply distributes packets based on connections and services, which allows better utilization of resources and improved availability under high traffic scenarios. You can read more about Load balancing in the following link: https://wiki.teltonika-networks.com/view/LTE_Bonding_vs_Load_Balancing.
Regarding speed loss after update, mobile connection quality is highly variable in general due to several factors such as weather, time of the day, base tower load, etc. You can read more about them here: https://wiki.teltonika-networks.com/view/LTE_Speed_Discrepancies.