Stick your hardware in the compatibility matrix to see if its supported here:
https://www.vmware.com/resources/compatibility/search.php
In terms of ESXi 8 upgrade if you don't use vCenter, create a bootable esxi image on a usb stick and install on your existing esxi host. Be careful, it will ask you if you want to do a fresh install or keep the existing datastore (and associated data/VMs etc). Obviuously if you want to keep the VMs and datastore then select the latter option. And voila once updated you should see all your existing inventory.
Again, I would practice on a dev rig or a nested esxi host on Workstation if you want more confidence,
BTW - I had issues with physical network adapters in my servers when I upgraded - drivers and vibs needed updating. Be aware!
Happy days.