Set Max Product Version (VersionMax) in the Upgrade table at build time can be achieved in Two ways,

1. Use COM object: ISWiProject.ISWiUpgradeTableEntries.VersionMax
InstallShield exposes a COM interface that allows you to perform many of the same tasks from a program, such as a Visual Basic executable, or a script, such as a VBScript file in Windows Scripting Host. By calling methods, setting properties, accessing collections, and so on, through the automation interface, you can open a project and modify its features and component data in many of the same ways that you would in the InstallShield interface.

Automation Objects:
Each InstallShield automation object represents an installation element such as a feature, a component, or a file. This section describes each of the InstallShield automation objects.

The highest-level object in the automation interface is the ISWiProject object. The first thing you must do to access the interface is create this object. Then, you can use its objects, methods, and properties to modify your project.

ISWiUpgradeTableEntry represents an upgrade item in the Upgrades view of InstallShield. You can retrieve an upgrade item by specifying an item in the ISWiUpgradeTableEntries collection.

2. Modify .ism project files directly as XML

Ex for ISWiUpgradeTableEntries:

Dim oProj As ISWiProject
Dim oUpgradeItem As ISWiUpgradeTableEntry

Set oProj = New ISWiProject
oProj.OpenProject "C:\MySetup.ism"

For Each oUpgradeItem In oProj.ISWiUpgradeTableEntries
oUpgradeItem.Language = "1033"

Next

oProj.SaveProject
oProj.CloseProject
To target a specific item, replace the For Each loop in the above code with this code:
For Each oUpgradeItem In oProj.ISWiUpgradeTableEntries
If oUpgradeItem.UpgradeCode = "{12345678-1234-1234-1234-123456789012}" Then
oUpgradeItem.Language = "1033"
End If
Next