The thirty-second answer
The common strategies are recreate (stop the old version, start the new one — simple, with downtime), rolling (replace instances gradually, so both versions run together), blue-green (run a complete second environment and switch traffic at once, giving instant rollback at double the infrastructure cost), and canary (send a small share of traffic to the new version, watch the metrics, then proceed or roll back). A/B testing looks similar but has a different purpose: it compares variants to measure a product outcome rather than to reduce release risk. Choose from blast radius and rollback speed: canary for high-risk changes on high-traffic systems, blue-green when instant rollback matters more than infrastructure cost, rolling as a sensible default. The real constraint in all of them is the database, because schema changes are not trivially reversible.
Say this first, then expand into the areas below as the interviewer steers.