How Can I Upgrade an Old PST File to a Newer Format Without Losing Data?

Hi everyone,
I'm currently dealing with an older Outlook PST file that I believe was created in an earlier version of Outlook (like 97-2002). Now I need to use it with a newer Outlook version (2016/2019/365), but I’ve read that older PST files have size limitations and compatibility issues.

Can anyone guide me on how to upgrade or convert the PST file to a newer Unicode format without losing emails, contacts, or any other data? Also, if there’s any reliable tool or manual method for this, I’d appreciate your suggestions.

Thanks in advance!