Indeed. Actually you need the errata in case you own an older/outdated print of the second edition rulebook. But in that case you are fine with updating the rulebook itself.
Convoy SZ adjacent two a Japanese & UK territory?
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It is possible to have a SZ with a convoy marker to be adjacent to a Japanese territory and an UK territory at the same time.
Can both Japan and UK disrupt this convoy at that moment?
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Yes.
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If you can disrupt 2 convoys at a time, do Japan chose who to attack, does the allies or can they do both. eg SZ 1.
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Since they happen on two different turns, they can do both.