Greetings, I truly like Character Creator and wanted to buy it in order to improve my paintings.
I have read some reviews though that kept me from buying the product. They say you have to spend another time the full price when a new software version comes out, for example from CC3 to CC4. Reviews also said that you need to buy tons of additional contents in order to get something out of it, is it true? I'd like to know the opinion of devs or expert users.
Thank you!

From one version to the next you have indeed to pay, but there are several years and many updates within a version. CC 3 came out in September 2018 and CC4 in May 2022.

Check out the release notes to get an idea: https://www.reallusion.com/character-creator/update.html.

There is content provided with each version. Peter, the moderator, will have a better idea of that.

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76% of original size (was 661x19) - Click to enlarge

In addition to what @animagic said, if you are not going to model content such as clothes, hair, etc., you may need to purchase some content to keep your archive rich.
It is useful to follow the campaigns in this regard.
For example, the CC4 program was given free of charge to those who purchased content for $300 in the New Year's Eve campaign.

In addition, new version programs are usually given free of charge in exchange for content purchase when they first come out.
I got the CC4 and iC8 programs for free with the purchase of $800 content. Moreover, since it coincided with Black Friday, I bought everything 50% off.
So for $800, I got $1,600 worth of content and $800 worth of programs.

RL programs and their content are expensive.
For this reason, it is useful to buy it as a bundle.
For example, instead of just purchasing the CC4 program, I can recommend the "Character Creator 4 Digital Human Essential Bundles" package.
This allows you to have a lot of things to start with.
In addition, if you are shopping for the first time, you can use your extra 10% coupon.

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Thanks for the answer.
Yes, my intention is to purchase the $550 bundle with SkinGen Premium and Ultimate Morphs add-ons.
I totally think RL products are worth the price, quality has a cost, but of course I'll try to save money with campaigns.