Ofc there are benefits. Updated builds include latest security patch and therefore are more safe.Is there any benefit from installing latest peregrine LineageOS 14.1 / Android 7.x builds? Google has stopped supporting Android 7.x more than a year ago. Unfortunately I cannot upgrade to LineageOS 16.0 due to some stability issues (despite carefully following upgrade instructions).
If you update to lineage os 16 be sure to format data as ext4.