Native WordPress Updates page is looking for latest updates on wordpress.org and receives nothing regarding WPBakery Page Builder (formerly Visual Composer). Instead, there are two options what to do.
If you want manually update WPBakery Page Builder login to support.wpbakery.com and download the latest plugin version. Then install it the same way as you did the first time (WP Dashboard -> Plugins -> Add new).
If you want to set automatic update – first go to WP Dashboard -> WPBakery Page Builder -> Product License. And click Activate button. Step by step instructions.