Leave it alone if
- The site is a brochure. Pages about what you do, where you are and how to reach you. Shared hosting is the right size for that, not a compromise.
- It is a small WordPress site. WordPress runs perfectly well on a shared plan. If the real question is who does the updating, that is WordPress hosting, a different purchase.
- The real problem is a slow theme. Oversized images, a page builder loading on every view, three analytics tools and a chat widget waiting on somebody else's server. All of it is slow on a VPS too, and now it costs more.
- Nobody is going to administer it. If you cannot name the person responsible for patching a self-managed server, you are buying a liability. Buy managed or stay where you are.
- You are buying ahead of growth. Moving up later is a straightforward job. Years of unused capacity is money you do not get back.