Only once you've updated the SQL Client components, will you need to reconnect the existing SEPM manager(s) to the SQL database after the SQL upgrade. To do that, run Management Server Configuration Wizard on ALL SEPMs connected to your now "upgraded" SQL server 2022, AND Deselect the "use a recovery file option" to reconnect your SEPM manager to your database.
Provide any new paths for bcp.exe and then put in your same password (as before) and click Next.
Click Next until Management Server Configuration Wizard (MSCW) is done.
Test and make sure SEPM(s) are working as expected
Multiple-SEPM site with active SEPM replication
If your SQL server uses TLS 1.2, ensure that new version of SQL Server supports TLS 1.2 as well.
Take a SEPM DB / SQL database backup (from each site before continuing)
Make sure SEPM Replication isn't running before you begin. (NOTE: If it will take a day or more to do this then consider suspending SEPM Replication for a week, or if it will be longer than a week, then consider deleting the SEPM replication partner from each site (NOTE: Don't delete the Remote Site).
Stop the SEPM services for "ALL" SEPMs sharing the same SQL Database "yet" to be upgraded.
Perform your in-place SQL upgrade per Microsoft Best practices and reboot your SQL server.
Only once you've updated the SQL Client components, will you run Management Server Configuration Wizard on ALL SEPMs connected to your now "upgraded" SQL server version, AND Deselect the "use a recovery file option" to reconnect your SEPM manager to your SQL database.
Provide any new paths for bcp.exe and then put in your same password (as before) and click Next.
Click Next until Management Server Configuration Wizard (MSCW) is done.
Test and make sure SEPMs are working as expected
Repeat the above steps on your Second site #2.
Once this is completed in both sites then un-suspend SEPM replication or re-add any deleted replication partners and then run SEPM replication after the above changes.