I would like to upgrade vSphere 5 to vSphere 7 licenses. After upgrading, will I be able to use the older version before deploying the new installation to different hardware?
There's a whole area of VMTN for vSphere, the {code} area where you created this thread is specific to SDK matters not licensing.
Thread reported asking moderators to move the thread.
According to the license agreement, you may only use the licensed version, i.e. once you upgrade the license keys, you agree that you no longer use the old keys.
The usual upgrade path is to deploy the new environment in the 60-days evaluation mode, then migrate your VMs, and finally upgrade the license keys, and assign them to the new systems.
André