Using iPhone se 1st gernation

iPhone SE, iOS 14

You can update your iPhone SE 1st gen to iOS 15.7.3.

Check here -> iPhone models compatible with iOS 15.5 – Apple Support (UK)

Go to Settings -> General -> Software Update -> Download and Install.

You need about 6 GB device storage and good Service and/or Wi-Fi.

If they are On, turn Off Hotspot & VPN.

Charge the battery > 70%.

See the following Apple articles:

Update your iPhone, iPad, or iPod touch

Update your iPhone, iPad, or iPod touch - Apple Support (IN)

If your iPhone, iPad or iPod touch won’t update

If your iPhone, iPad, or iPod touch won't update - Apple Support

You can do the update via PC, see this Apple article: Update software on iPhone, iPad or iPod touch in iTunes on PC

Update software on iPhone, iPad or iPod touch in iTunes on PC – Apple Support (UK)

If you have a Mac see this Apple article: Update your iPhone, iPad, or iPod touch with the Finder

Update your iPhone, iPad, or iPod touch with the Finder - Apple Support