No if anything newer ones run faster.

If you still had a HDD that’d be a problem, the software assumes a fast drive now and leaves memory on the disk that, years ago, would have been pulled into RAM, but you won’t have that problem (also… that’s why Macs don’t need much RAM compared to Linux or Windows).

Apple drops support for old Macs when the cheapest configuration of that Mac is no-longer fast enough. If it’s been upgraded, like yours has, it’s often fine.

… but seriously when you can afford it an M1 processor will be an order of magnitude faster. Totally worth the price - keep an eye out for secondhand ones.