From your question it's not clear what do you need to do? Do you need to upgrade your WP site from a previois PHP version to 7.4? Then you use wo site update yourdomain.com --php74, the command you quoted is to upgrade php74 stack, why do you need to upgrade it? Same with Redis, you add Redis cachec by this command wo site update yourdomain.com --wpredis. Let us know if you require any further assistance.
