3037327 - Source release '7xx' is not supported for your SUM version

While performing upgrade using Software Update Manager (SUM), below error is observed in phase PREP_INPUT_CHECK/SUMCHK:

Directory: <DIR_PUT>/abap/log
Name: PHASES.LOG

1EETQ399 Last error code set is: The source release '750' is not supported for your SUM version, at least
1EETQ399Xrelease 760 is required.
1EETQ204 Upgrade phase "SUMCHK" aborted with severe errors ("20210312154353")

OR

Directory: <DIR_PUT>/abap/log
Name: SAPup_troubleticket.log

SAPup broke during phase SUMCHK in module PREP_INPUT_CHECK / Parameter input
Error Message: Last error code set:
The source release '702' is not supported for your SUM version, at least release 760 is required.

Software Update Manager (SUM)

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