Upgrading from Windows 7 to Windows 10 or 11 can be a beneficial move, especially for security and support. However, regarding your concerns about older software compatibility, Windows 10 has a better track record of supporting legacy applications compared to Windows 11. You might want to first verify whether your key software is supported on the newer operating systems by checking the compatibility mode settings available in both Windows 10 and 11.
As for performance, ensure that your hardware meets at least the minimum system requirements for Windows 10 or 11. For older machines, upgrading RAM or switching to an SSD can significantly improve performance if you haven't done so already.
To make the transition smoother, consider using the upgrade assistant tool offered by Microsoft for Windows 10 or performing a clean installation if moving to Windows 11. Always back up valuable data before proceeding with any OS upgrade.
Lastly, you could test drive the new OS using a virtual machine before fully committing to ensure everything runs smoothly with your existing setup.