you can use the Upgrade Helper tool.

The Upgrade Helper is a web tool to help you out when upgrading your apps by providing the full set of changes happening between any two versions. It also shows comments on specific files to help understanding why that change is needed.

1. Select the versions

You first need to select from and to which version you wish to upgrade, by default the latest major versions are selected. After selecting you can click the button "Show me how to upgrade".

note: Major updates will show an "useful content" section on the top with links to help you out when upgrading.

2.Upgrade dependencies

The first file that is shown is the package.json, it’s good to update the dependencies that are showing in there.
For example, if react-native and react appears as changes then you can install it in your project by running yarn add or npm install:

yarn add react-native@{{VERSION}}
yarn add react@{{REACT_VERSION}}

{{VERSION}} and {{REACT_VERSION}} are the release versions showing in the difference there.

3.Upgrade your project files

The new release may contain updates to other files that are generated when you run npx react-native init, those files are listed after the package.json in the Upgrade Helper page.
If there aren’t other changes then you only need to rebuild the project to continue developing.

In case there are changes then you can either update them manually by copying and pasting from the changes in the page or you can do it with the React Native CLI upgrade command by running:

npx react-native upgrade