WordPress relies heavily on PHP. Hence, it becomes extremely important for you to update it regularly. Updating PHP to its latest version is not only crucial for your website’s security but also helps in boosting its performance.
The current latest version of PHP is 7.3. All updated version comes with bug fixes which ensure better security for your website.
There are certain things you need to take care of before you push that update button. To learn how the correct way to update PHP, check out this blog.