My instance requires a Mysql upgrade and is spitting out this error

"Your server uses MySQL Governor. You cannot use the MySQL/MariaDB Upgrade feature while your server is in this state. For more information, read our MySQL/MariaDB Upgrade documentation."

I understand I can upgrade my server's cloudlinux Mysql to a newer version. I was reading other threads to be sure to back up the entire database before doing the upgrades. The question being - which database are you talking about? I have several hundred. I don't see a cloudlinux or governor database, whm, cpanel, lve manager nothing familar. All databases get backed up by default every night and copied offsite.

Should I just run the global database backup and then run this?

$ /usr/share/lve/dbgovernor/mysqlgovernor.py --mysql-version=MYSQL_VERSION
$ /usr/share/lve/dbgovernor/mysqlgovernor.py --install

After changing the database versions what would I need to do ensure WHM/Cpanel is happy? I wouldn't need to run their update again would I?

Will this impact any domains that required an older version of mysql?