As long as you're rooted the update will fail. If you want completely stock and updated to NK2(the latest update), go to thus thread:
http://forum.xda-developers.com/showthread.php?t=2784880
Once there go down to where it says nk2 files and download the first one. It'll be the full tar. From there just follow the install directions. It will take away root, safestrap, and your data, but you'll be 100% stock with the latest update, so that when the next one drops you can take it. I think you'll be better off just downloading a rooted version of nk2, flashing the nk2 firmware, then sitting tight until lollipop drops and the devs release a rooted version of it. I think that's how most people are going.
You can also use this method to go to whichever firmware version you want to run with the corresponding rom to match.
Hello I have a rooted s5 still running 4.4.2 and still need the ne9 update and the OTA update always fails. I have finally realized I want to update so when lollipop is out I can get it. What is the most simple way to update? I do not mind losing root but would really prefer not losing any of my data. However, if the easiest way to update loses my data I do not mind. Thanks alot!