I am looking to update my GCC to the newest version (8.2 as of today) but when I attempt to use yum update gcc it doesn't have any new packages to update. I am also not having any help looking at the GCC's website. Any help would be greatly appreciated!
Red Hat Enterprise Linux, being an "enterprise" operating system, is designed to be stable and similar for a long time. That means you do not get the "latest and greatest" by default, but a known-good implementation that remains the default on that particular RHEL version for the long term. Generally you only get substantial software upgrades by upgrading RHEL. Unfortunately, there is no RHEL 8 yet.
devtoolset allows you to switch to newer, out-of-band versions of development software like GCC, in a way that doesn't "contaminate" the whole OS installation. I used it, with great success, to get GCC 4.8 (and its C++11 support) on CentOS 6, where the official GCC is 4.4.
Or you could choose to use a distribution more suited for home users, such as Fedora.
Or you could download the GCC source and build it yourself (but ew!).