PHP version upgrade message

I am getting a PHP upgrade error message in Joomla telling me to upgrade to a higher version (see attached).
Questions:
1. will EB be affected if I upgrade to 7.1.4? (See attached)
2. should I be asking Siteground this question?

Many thanks.
Peter

Just an update on this...
I did change to php 7.1.4 to see what happened. It crashed the group registration page saying not enough parameters had been passed to some calendar file. So I reverted back to PHP 5.6.30.
Now the group registration page displays OK but when I put in a number of registrants the wait icon just spins for ever and never moves on. (see attachment)
ment)

ALSO... now whenever I edit an event it seems to be adding multiple categories (even with the same name) - see attachment.
Sorry, should have left well enough alone!! I seem to have wrecked it
Any suggestions?

Guess you should stay with 5.6.0 for now. Then submit a support ticket sending us super admin account of your site so that we can check it directly on your site to see why these strange issues happen and get it sorted

This weekend, I will update my local computer to latest PHP 7 and test the extensions

Regards,

Tuan