Python and Ubuntu versions

[אורי]

Hi,

I have a production server with Ubuntu 18.04 LTS (currently upgraded to
Ubuntu 18.04.5 LTS) and I use Python in virtualenv - currently Python
3.6.9. I'm using Django and I read that from Django 4.0, a minimal version
of Python 3.8 will be required. I would like to know how I use the latest
version of Python (3.10 or 3.9) with my production server - do I have to
reinstall a new server with the latest Ubuntu LTS version? Or do I have to
upgrade my current server's Ubuntu version by upgrading the same machine?
Or should I keep the Ubuntu version and only upgrade Python? I'm also using
other software such as PostgreSQL which is currently psql (PostgreSQL)
10.17 (Ubuntu 10.17-0ubuntu0.18.04.1). Should I upgrade this too? And what
is the risk that things will not work after I upgrade this?

Thanks,
אורי
uri at speedy.net