Depending on the system, configuration and access there are different ways people like to upgrade.
The way I do it is to create a new installation in a new directory for v4.7.
Then I run the Install to create a a test database.
This allows you to check the install is all working before making any changes to the configuration.
Once you have checked everything is working in this test mode, take a copy of the newly create .json files in case you need to go back.
Then you can then you edit the .json files above to make any changes to the configuration and point the system to your existing database to do the upgrade.
You can then test everything is working with the production configuration
Then I install the plugins which should do their own upgrade of the database as required.
Also refer to Upgrading nopCommerce
