On modern control heads there is no need to select standby during code changes.
If you are TCAS equipped you most definitely should NOT select standby as you will disable your TCAS. It will have to rebuild its roll call and tracking when you turn your transponder back on. Since you are getting code changes around the same time as RT freq changes and FIR / sector boundaries which are obviously already risk factors, knocking a hole in your TCAS protection is not a good idea.