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V-ray Next vs newer V-ray?

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  • V-ray Next vs newer V-ray?

    Looking for input from you far more experienced and skilled users please.
    I have V-ray Next perpetual. I am now locked into 3ds Max 2022 perpetual which does not work with V-ray Next. Or Phoenix 4. I can't install 2021.
    Worked every day (and almost every night) 1,400+ days straight so far to get a PC to handle this only to discover that I can't even use it now that I finally got it running. Everyone going subscription is making a mess of things as I don't do subscriptions.
    Then I discover there is one solution - upgrade my licenses to newer version that does support 3ds max 2022.
    So what are your thoughts on the new v-ray? Is is backwards compatible if I have a project that was made with V-ray 3 or 4?
    Does Phoenix FD 5 work with V-ray 7 now?
    Thank you for your time. Hope my weary post makes sense..
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