PHP version 5.6.40
Our theme requires min php v 7.4 -> https://prnt.sc/NxbxmYc8gQSx
we have similar requirements that WordPress has -> https://wordpress.org/about/requirements/
and WooCommerce -> https://woocommerce.com/document/server-requirements/
Contact your hosting provider and ask to increase PHP version.
Also, you should not update the Core plugin before the theme update
Once the PHP version will be updated, reply back, please. If the problem is not solved, provide wp-admin access also.
One standard license is valid only for 1 project. Running multiple projects on a single license is a copyright violation.