Is my hosting stuck on an old PHP version because the store cannot run on a newer one?
Forum threads show that the original 2.3.4 release had trouble on PHP 7 and needed the 2.3.4.1 hotfix, and a third-party packaging note says osCommerce 2.3 does not work on PHP 8 or later. Stores with years of edits often run on older PHP for this reason.
Weigh what your host still supports and how much of your code depends on old PHP behavior. Phoenix users report that undefined constants, which only warned in older PHP, can become errors on PHP 8, so custom code and add-ons are the usual trouble spots.