PHP versions prior to PHP 7.4 are end-of-life (EOL), meaning they no longer receive updates. Because of this, your site may be exposed to security vulnerabilities.
It’s not just the security implications though of running an older PHP version, it’s the performance impact as well. According to PHPBenchmarks, PHP 5.6 is at least 48% slower than PHP 8.1
Imagine simply updating your PHP and seeing an instantaneous performance rise of 48%! There’s nothing else you can do to your website that’d have such a tremendous impact on load times in such a short space of time.
This table displays the market share (in
%) for each PHP version that WordPress websites are using.
You should consider upgrading to the latest WordPress PHP version for better performance and security.