PHP 8.0 is a major update of the PHP language.
We will be adding PHP 8 to all servers in the coming weeks. We highly suggest upgrading to the newest PHP version for adding performance and security. You can upgrade to any PHP version we have in your cPanel under the multi version PHP tool. If you notice an issue just downgrade one version. As of 12/11/2020 PHP 7.4 is the most compatible version of PHP for WordPress.
It contains many new features and optimizations including named arguments, union types, attributes, constructor property promotion, match expression, nullsafe operator, JIT, and improvements in the type system, error handling, and consistency.
For more details please visit php.net