There are many ways you can do it. RDS instances with less storage and can afford more downtime, it is ok to modify the version incrementally from 5.5 to 5.6 and then 5.6.to 5.7.
I was working on cross account copy of RDS snapshots which are encrypted. We prefer to have snapshot copy in a different AWS Region of destination AWS account. The process of copying encrypted RDS snapshot is different from that of a normal…