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My current PHP version is 5.6. The lowest version Godaddy will allow for an update is 7.3 - the highest is 8.1

According to the PrestaShop PHP compatibility chart, Prestashop 1.6.1.24 will not work on PHP 7.3

1-click update warns me to update my PHP version, so what is my process to get to the latest version of PrestaShop?

Is it possible to update to PrestaShop 1.7.6, then update PHP to 7.3, then update Prestashop further?

Or perhaps is it possible to install PHP 7.1 on my Godaddy host manually? 7.1 is compatible with both PrestaShop 1.6.1.24 and 1.7.8.5.

Or is 1-Click Upgrade in PrestaShop 1.6.1.24 compatible with PHP 7.3 even though PrestaShop 1.6.1.24 in general is not?

Note that I am not concerned about module compatibility - just trying to avoid PHP problems during and after the update.