If I upgrade my existing v4 licensing within the license portal to version 5, but continue to use my vcentre v4 for the time being, will upgrading my license on the portal cause any issues with my vcentre?
Does Vcentre authenticate in anyway against the license portal??
vCenter doesn't use the online license portal so you should have no problems upgrading or downgrading icenses in your account.
you can use your old licence
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Good luck!
There is no relation between the licenses registered in you account and practically what u r using. your existing licenses will upgrade through you account online. so technically there is no issue with using your existing licenses.
regards
Sharif Mahmood