Hi Adam,
Sorry for the late reply from my side. Yeah it somehow landed in the spam folder even though the mail address was in the allowlist.
Thank you for your reply thread. The documentation was very helpful to migrate the database schema from my old instance to the new version of LabKey. I successfully migrated the old database schema and updated the instance with the latest release version of the LabKey (23.11.11). 
​Yes I will take care of upgrading the instance every four months with the latest release candidates.
Thank you very much for your support! This case can be closed.
Regards,
Vipin