PHP Update Recommended
Your site is running an insecure version of PHP (7.3.33), which should be updated.
What is PHP and how does it affect my site?
PHP is the programming language used to build and maintain WordPress. Newer versions of PHP are created with increased performance in mind, so you may see a positive effect on your site’s performance. The minimum recommended version of PHP is 7.4.
The same information has been confirmed from Dashboard > Tools > Site Health > Site Health Status. My site is running an outdated version of PHP (7.3.33), which requires an update.
The WordPress site is hosted with Scalahosting. One of the best Linux VPS hosting service providers, also the developer of the SPanel solution. Here’s how to change PHP version or upgrade PHP to the latest version in SPanel.
Log on SPanel, scroll down to the Tools section and choose PHP manager from there.

Once the PHP Manager page opens, you can see a list of all your domains hosted on the server. You can choose and change PHP version for all your domains or sites individually. Set the preferable PHP version you want to use for each of your websites. It is always a good idea to use the latest PHP version.

Select the domain and hit the Change button, you can then select a newer version from the version list, finally click the Change button to complete. After that you should see the message saying ‘PHP Version Updated Successfully’.
That’s how you can update PHP to the lates version for WordPress sites in SPanel with Scalahosting.