In my experience, yes you absolutely need maintenance. In the past I've had to upgrade from HTTP to HTTPS, upgrade the OS, upgrade to newer versions of external API and embedded components because the old ones were deprecated, handle a domain registrar shutting down, and then yes absolutely PHP updates and upgrades for security that then start giving you warnings because less secure versions of functions are being deprecated...
And frequently updating the one thing that's broken necessitates upgrading a bunch of other things that breaks other things.
I literally cannot imagine how you would keep a PHP site running on a virtual server for 10 years without any maintenance. I need to address an issue probably roughly once a year.