Which PHP Versions Get Critical Security Updates?
Although there are many reasons—including performance—to update to newer PHP releases, the number one reason is to avoid losing security updates.
Each version of PHP (7.4, 8.0, 8.1, 8.2, 8.3, etc.) has three years of support before it is considered end of life. For two years, it gets bug fixes and all security fixes. In the third year, it gets only critical security fixes. After that, nothing!