Upgrading CPU for T7820

Hi, I have a Dell Precision T7820 workstation with the following specs: Dual Xeon Gold 6148 (150W TDP), 64GB DDR4-2666V RDIMM, Motherboard: 0804P1, BIOS Version: 2.8.1, Current CPU Temperature: ~53°C under load.

I'm considering upgrading to dual Xeon Platinum 8160 (150W TDP) since it uses the same socket type as my current CPUs. Will this be compatible with my system?

Additionally, if Xeon Platinum CPUs are supported, I’m also considering dual Xeon Platinum 8176 (165W TDP) for a higher thread count. Given that I plan to keep the same workload, PSU, and cooling setup, could this lead to overheating or other thermal issues?

Lastly, I read that if Dell has not updated the CPU microcode in BIOS 2.8.1, the new CPUs may not boost properly. Does anyone have experience with this, or should I update my BIOS before upgrading?