HI @P.A.Hughes,
I WONT advise moving to 4.27 to get to UE5. I have had many problems converting 4.27 projects.
Projects in 4.26 and earlier versions convert and work well, the source code changed so quickly that there was a period where conversion did not work, but this has been fixed with a new conversion code.
We in Unreal don’t understand Unity? The engines are completely different engines and cant be compared.
Make a backup and use the copy to convert to don’t convert in place, click convert and you will get a project with 5.0 ending in the file name.
Make sure you use a source code version, not the Early Access 2 BINARY version from the Epic Launcher.
Use the post Visual Studio 2022 builds and runs UE5.0 - Development Discussion