Safe to update?

[dbyentzen]

depends
normally, those should be safe, but 5 red indidcates that updating kernel could affect graphics, drivers, etc. that could make your system unstable, so finding a good stable recent kernel that fits your selection of hardware is key, and if it runs fine, its the users risk to update, which usually should fix problems on newer hardware, but could also have regressions.

I didn't see any option to revert back if something goes wrong. Is there an easy way to revert back if needed?

You can boot with previous kernels by accessing the Grub menu during boot up--usually holding the "shift" key during early boot up. See here: https://askubuntu.com/questions/16042/ho...-boot-time
You can edit Grub to make your older kernel the default but I wouldn't delete the recently installed one.
I've only had one minor regression with kernel updates in five years( they are rare) and it was easily fixed. I prefer to update the kernel because I can easily revert to the previous one should I need to but make sure updates meets your needs.