Thank you for your questions about upgrading your Moodle site. Before performing any upgrade, it's always best practice to first make a backup of your site before proceeding with your upgrade. This way, if something does not go as expected, you still have a good, working copy of your site you can restore.
I checked into the server requirements listed for your upgrade and all the server requirements check out. You can verify these through a php info file in your account.
Please let us know if you have any additional question or need further assistance.
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