The long awaited latest version of PHP is now available on all servers. This version comes with many performance and security improvements. It's also closely tied into WordPress, so make sure and upgrade your website ASAP, to use the improvements.
To upgrade, just log into your cPanel and click MultiPHP. On that page change your PHP to version PHP 7.4.
The changes take about 2 minutes to fully activate. If you have an issue for some reason, you can always change it back.