The creators of PHP at php.net have chosen to focus on a limited set of PHP versions. This is understandable, as maintaining old PHP versions can be tricky and time consuming. Since we invest in CloudLinux, we can offer you old PHP versions more securely. Updates to recent PHP versions are ported to older versions when applicable. And, bugs in specific old versions are fixed as well. Those fixes are not offered by php.net and makes this solution more unique.
Since we support older PHP version, you do not have to update your application immediately when php.net decides that a version is End-Of-Life. This allows you to run longer on a secure PHP version.