Catalina and later do not support 32-bit applications. So if you upgrade past Mojave, any 32-bit applications that you are running now will break. You'll need to find updated versions of them, or replacements for them, or just do without. (Or keep a drive with a High Sierra or Mojave installation around, so you can dual-boot into an older OS, when you want to run a 32-bit application such as a game.)
Upgrading to Catalina or later will let you run current versions of Firefox, Chrome, LibreOffice, and the Affinity V2 applications (Photo / Designer / Publisher). Upgrading to Monterey or Ventura would also let you run applications from the likes of Microsoft and Adobe. And Ventura will be part of "the most recent three" longer than Monterey will. IMHO there is no benefit for you in upgrading to Catalina or Big Sur when you could install Ventura instead.
You may find that a printer or scanner that has drivers for your current operating system (High Sierra) doesn't have drivers for a newer one. I did! Two things that can help with this are:
- AirPrint – if your printer supports it
- VueScan (a commercial product) – if you need to salvage an old scanner
About AirPrint - Apple Support