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I have Lightroom Classic 12.5 release. there is a newer release that my coworker has. If I upgrade to the newest release, will I lose all my catologues new and old?
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No, the latest release, LrC 13.01 will at first tell you that it has to convert the catalog that you have most recently used in LrC V 12.5. The LrC V12.5 catalogs are not changed in anyway. To get all of your catalogs to upgrade, you will have to attempt to open them in V13.01 and the update process will happen to each in turn. You should already be backing up your catalogs and image files. If not, do it before upgrading to 13.01
Once your catalogs have been converted, move the V12.5 catalogs to another folder, like "Old LrC Catalogs".