I have been assigned a ticket to update all node packages and dependencies in a react project to the latest possible version without breaking the application monolith as it is now; no further meaningful development of features is planned for this application.
Although I plan to finish the task without much questioning, I was wondering what would be, in general, the merit of having the latest versions of all dependencies in a project of this nature. I tend to understand that maintenance and possible further development would improve by doing this but I was wondering if there could be other justifications for reasonably keeping dependencies up to date in legacy codebases.