License to pro 11 from pro 10.5

i am on 10.5 pro now and just bought the $60 upgrade to pro 11 but have NOT yet installed it. if I wait until the release of cubase 12 will I be able to use it for version 12 and do grace period? thank you.

The next version will be 11.5 not 12 so I would say no unless you actually meant 11.5

i mean any upgrade version… 11.5 or 12, etc. if I choose to keep this upgrade from 10.5 pro to 11 pro but not yet activate it. every time i do I always miss grace periods.

Yes, correct, you will get the version that is current at the time of activation (unless that policy changes in the future).