Can I update version or not

It depends on your iPhone model (identify it using these instructions:-->Identify your iPhone model - Apple Support ), then see this compatibility chart:

What type of iPhone do you have?

See this chart for the most recent obsolete models

The iPhone 5S/6/6plus cannot update further then iOS 12.5.5

The iPhone 5C cannot update further then iOS 10.3.4

The iPhone 4S cannot update further then iOS 9.3.6

The iPhone 4 cannot update further then iOS 7.1.2