Yes, many problems could occur. Depending on the size of the database, you
could inherit many problems. The newer advanced software will not recognize
allot of older commands, formula's, and criterias. You would need to
manually rebuild alot of these functions and it will be hard to determine
which ones automatically converted and which ones you will need to manually
convert/update. Most likely you will spend endless hourssss on this project.
We have the exact same issue, which our IT recommended for us to hire a
contracter to come in and update and convert our older database version
including the executable file. Good luck!!