Hi veeranjaneyulu,
generally speaking you should be able to replace the kernel version without problems keeping the same image created with older Yocto Project version. Consider that the YP version changes usually involve the GPU and/or graphical section so keep a coherent build system and environment is a best practice.
Distinti Saluti / Best Regards
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Marco Cavallini | KOAN sas | Bergamo - Italia
Yocto Project Advocate