Should I update to PHP 7.4 on Centos 7?

I’m wondering how can I update to latest stable version on Centos 7 using webmin?
And should I do it or not? If yes then please share any tutorial, would be highly obliged.
Thankyou in anticipation.

I currently have version 7.2.24 and 5.4.16. And I also want to remove the obsolete versions of PHP.

Short answer: if your scripts dont break, then upgrade by all means.

For legacy scripts, PHP 7.0 is the best that you can offer at the moment, if you must support scripts that do not work with newer versions of PHP. The standard today is PHP 7.2 and most of the popular scripts work with this. PHP 7.3 and 7.4 offer marginally better performance but the sweet spot is still 7.2.

Thankyou so much for taking out time and replying @calport. Actually this came into my mind when wordpress heath notified a health issu saying:

PHP is the programming language used to build and maintain WordPress. Newer versions of PHP are faster and more secure, so staying up to date will help your site’s overall performance and security. The minimum recommended version of PHP is 7.3.

I only use wordpress, So I would like to know if it will break any script or not?

Depends on what you want to install besides WP.
But you can also just additionally install 7.4 and select it for that site.

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