HELP: Are those specs enough for MacOC 14.6 Sonoma?

Hi everyone, I'm new here and I need some suggestions.

I would like to use Final Cut Pro 11 (for the Magnetic Mask feature), so I would need the macOS 14.6. Will it work with the specs shown in the image above? Will it freeze? Would I be better off to keep my actual version?

Actually, I run with no problem Final Cut Pro X and Blender, and those with Google chrome will be the only programs that I'll run on this iMac.

Moreover, I have some additional doubts:

1. Would I need to do a backup of all my files before the update, or will they be kept on the Mac?

2. If the Mac will not work properly, is it easy to go back to macOS 10.15.7?