Createa a new database. The phpVMS v5.5.2.72 database is not compatible with v7.
As you progress thru the v7 install, look on the upper right of the screen for red letters saying something about a Legacy Import. Choose that option to import "most" of your v5 data into your new v7 database.
Be sure to use the latest dev version from yesterday (or newer) so your v5 financial data imports to v7.
There will still be a good bit of work to do setting up subfleets and assigning them to flights (schedules in v5) and some other stuff. Be sure to set up the v7.env file for email as soon as the install is complete.
The bottom pic with the warnings looks to be from v5.
When installing v7, use Option1 in the docs. Nothing from v7 goes in the public_html directory. Later, when you're ready to go live, you can redirect your domain to your v7 sub-domain.