… but you do not mention Android version ← Is a link.
Maybe you are asking about changing from e-1.8.1-r-20230206257804-dev-pioneer
e-1.14-s-20230819321663-dev-pioneer ?
There is an Upgrade page for your device https://doc.e.foundation/devices/pioneer/upgrade. Format data is not mentioned on that page.
As said before, just be sure to have the best backup you feel you need before any significant intervention.