The majority of your applications and settings should smoothly handle the update.
We still recommend backing up all of your important files before installing it, though (you should be backing up regularly anyway).
You will, however, want to make sure that you've got an up-to-date Windows Display Driver Model (WDDM), which you can get by simply updating your graphics drivers.
Last, but not least, there is also a minimum requirement for screen size and resolution.
Once I installed an M.2 SSD and cloned the OS to run off the SSD, this machine became a pleasure to use.
No laptop is perfect, but at this price point with the stated specs, it's a solid buy.
You'll need graphics support for Direct X 9 or higher, but seeing as this standard is more than a decade old, very few systems will have issues with this, and there's no need for a discrete graphics card.
Aside from up-to-date software and drivers, these are pretty much what you get with every Windows PC sold in the last decade.
As a result, unless you're stuck on some really old hardware, any PC you own should be compatible.
If you're running an AMD processor or Intel Core processor from this decade, you'll have no problems.
You'll also want to look up whether or not your processor supports a 64-bit operating system.