At a minimum, CS customers need to be on CS 9.0 Bundle 34/HCM Bundle 25 in order to upgrade to 9.2. Usually, customers will update their production environment to this level before starting the upgrade to release 9.2 If you choose to keep your production as is, then the bundles will need to be applied to the Copy of Production on every upgrade pass - Initial and MTP(s).
As the above post mentions, to apply the bundles, you will end up with the bundles in production. Why would you need to apply them again once they have reached production? I guess we don't understand the question.