Oracle 12c is a supported database: https://docs.mendix.com/refguide/system-requirements#server
Normally upgrading an Oracle database does not affect the data, but check with your DBA. Also, make sure you have a database backup.
One thing to keep in mind is that Mendix 4.7.2 is an old version (no longer supported). You may need to upgrade to mendix 6 or 7, as this includes updated oracle jdbc libraries which may be needed for oracle 12.