All flexible instances are restarted on a weekly basis. During restarts, critical, backwards-compatible updates are automatically rolled out to the underlying operating system. Your application's image will remain the same across restarts.
Google doesn’t guarantee 100% up-time even if you use 2 instances or more, instead we do have an SLA agreement with the customers where we provide a monthly up-time percentage of a range between 99.00% – < 99.95% as mentioned in this document.
That being said, it is recommended to use automatic scaling to ensure that your application is always serving with enough instances to meet your traffic needs.