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When you have a workstation with only Exchange System Manager Tool installed to manage Exchange Server Organization you should update it with the latest Service Pack.
Why do I need update with the latest Service Pack a workstation with Exchange System Manager Tool only?
Because the new features of the new service packs can have changes in graphial interface and these new features are only accessible after the upgrade of the existing Exchange System Manager Tool. If it was installed on a separate workstation with Exchange System Manager Tool only, that workstation must get the latest Service Pack.
More information: What to consider when you install Exchange System Management Tools on Windows XP
Which are the changes found in Exchange Server 2003 Sp2?
The biggest changes added to Exchange Server 2003 SP2 are Intelligent Message Filter position in Microsoft Exchange System Manager, SenderID framework GUI (Graphical User Interface) and wizards to help Public Folder replication.