Yes before moving to the new version always prepare a whole package master release which include all of your process, object, credentials, scheduler, API,workqueue, calendar, tiles, etc everything available under the release option.
If something highly critical then you can take backup in form of XML files.
All this you can import later to your new BP version.
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Thanks & Regards,
Tejaskumar Darji
Sr. RPA Consultant-Automation Developer
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