Veam just launched v12 for their Veeam Backup & Replication.
We do encourage you to
1. Backup Configuration Catalog
2. Clone the VBR Server & perform a test upgrade on the isolated environment first
3. Identify issues and problems of the upgrade before doing it on the production environment
4. Review the Upgrade checklist :- https://helpcenter.veeam.com/docs/backup/vsphere/upgrade_vbr_byb.html?ver=120
Don't rush to perform an upgrade to the production environment.
You may view on upgrade video on how the upgrade process looks like