You'll need a supported version of PHP to do the upgrading anyway, o I would see if you can get PHP 5.6 running for the time-being. Once that's working upgrade to 4.2.5 for the bug fixes and security improvements. Then, I'd switch to PHP 7.1 which is the highest PHP version vb4 can use. PHP 7 offers a lot of performance improvements, so it's worth the hassle to get it going.
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