Is it okay to upgrade to the latest version of jenkins?
Hello @vinith and welcome to this community. 
What version of Jenkins are you currently using?
What do you call “latest”?
You could have a look at Jenkins LTS Upgrade Guide.
As for the question about the licence, Jenkins is free and will stay that way.
You could have a look at the Project Governance Document to know more.
There is a commercial product sold by a vendor on top of Jenkins, but it’s not Jenkins, it’s some kind of “Enterprise Jenkins”.
Hello,
Currently we are using Jenkins 2.361.2 . what I got to know is if we upgrade to latest version of Jenkins the plugins are getting deprecated and there will be issues with the deployments. Is that right or we can upgrade to latest version of Jenkins?
Enterprise Jenkins means is it from Cloudbees?