Updating drupal commerce is still a bit messy, per docs here you need to run all of this to have any chance of updating
composer update --with-dependencies drupal/commerce drupal/commerce_price drupal/commerce_product drupal/commerce_order drupal/commerce_payment drupal/commerce_payment_example drupal/commerce_checkout drupal/commerce_tax drupal/commerce_cart drupal/commerce_log drupal/commerce_store drupal/commerce_promotion
Some useful commands when determining composer problems would be
Show latest versions of all projects
composer show -l
or show it for particular package
composer show drupal/commerce -l
See what prohibits update to particular version
composer prohibits drupal/commerce:2.11.0
Show info of package
composer info drupal/commerce