To be fair I recently upgraded an old PHP install from 5.5 to 7.2 and it sped up the site tremendously. My workflow while troubleshooting is now always going to involve upgrading software.
While upgrading should be an option, just don’t do it as a first step. Changing any dependency comes with risks and moving from version 5.5 to 7.2 of anything screams danger to me.
Sure, there are times when it’s going to work out for you but you should at least have narrowed down your issues before you go down that path.