Inhibition and updating are fundamental cognitive functions in humans, yet the nature of their relationship, whether shared or distinct, remains ambiguous. This study investigates the relationship between inhibition and updating and examines whether this relationship is altered in individuals with trait anxiety. A novel paradigm that combines N-back and congruent/incongruent Stroop tasks were utilized to explore these issues by employing Signal Detection Theory (SDT) and the hierarchical drift diffusion model (HDDM) methods. The results revealed that participants exhibited longer response times and higher error rates in conditions requiring both inhibition and updating compared to those requiring updating alone. SDT analysis indicated lower discriminability, while HDDM analysis showed slower drift rates and longer non-decision times. These findings suggest that inhibition consumes cognitive resources, leading to worse updating performance, implying that both functions may rely on shared resources. In the anxiety group, higher trait anxiety scores correlated with increased response times and decreased accuracy. The drift rate fully mediated the effect of trait anxiety on accuracy, suggesting that the speed of effective information accumulation is a key mechanism underlying the abnormal functioning of inhibition and updating in individuals with anxiety. Overall, the results elucidate the relationship between these fundamental cognitive functions, supporting the notion that inhibition and updating share cognitive resources. Furthermore, this study provides evidence and insights into the cognitive abnormalities observed in individuals with anxiety.