Update from 7.1 worked without issues with the standard update script for me. Changelog as on Github:

SECURITY

• This version fixes important vulnerabilities, that will be detailed on Tuesday, April 15

Bug fixes

• Fix playlist page margins
• Fix danger button border
• Fix unsubscribe button label for channels
• Fix remote subscribe on iOS
• Add Podcast feed to subscribe button
• Always display technical information tab in About page
• Fix menu button auto font-size to prevent overflow in some locales
• Correctly inject multiple rel="me" links with supported markdown fields
• Fix adding studio watermark with audio/video split HLS file
• Reset video state on studio failure
• Fix updating a user in administration
• Fix error when getting a S3 object with some S3 providers
• Specify charset when uploading caption files in S3
• Fix theme color parsing with some web browsers
• Improve channel description in custom markup miniature
• Ensure ffmpeg process is killed if download is aborted
• Correctly reload playlist on playlist change in watch page
• Use indexifembedded in embeds instead of noindex
• Fix extra space on links of remote comments
• Don't convert webp images to jpeg