Most famous php version 7.4 reaches its end of life in November 28th this year. For ensuring security security and stability you should think of upgrading all your existing php website to php8 or above
above tables show the current supported PHP version
|version(Branch)||Initial Release||Active support until||Security support until|
|7.4||28 Nov 2019||28 Nov 2021||28 Nov 2022|
|8.0||26 Nov 2020||26 Nov 2022||26 Nov 2023|
|8.1||25 Nov 2021||25 Nov 2023||25 Nov 2024|
Some of the main issue you may face here by upgrading php version to php8 or higher is comparitability issue most of application like CodeIgniter, Laravel and others are already at it’s stable version support these version completely but in case of our most widely used WordPress CMS is still in beta support for the higher versions but mostly it will be solved by next major WordPress Release this year.
Also there is advantages also by upgrading the php version to the higher versions is that you will get free performance boost as bonus by default and get security support for more years
In conclusion there are millions of websites are working using php7.4 that needed to be upgraded to the new version to keep their site stable and secure by November this year let’s hope all the upgradation goes well and all you hosting partner help you in this process of upgrade by giving everyone the easy way to switch the php version of their sites like cPanel php Selector tool and other php switching tools.