The changing of PHP versions in cPanel is possible as long as your server administrator allows this. Changing the versions is possible through Easy Apache4 (EA4) or later.
Changing the domain or subdomains active PHP version
Start by opening the MultiPHP Manager interface by navigating to cPanel >> Software and then click on MultiPHP manager.
Check the boxes on each row of the domain you want to change - Set PHP version per domain section.
Simply select the PHP version from the list on the right-hand side of the screen above the domain list, and simply clIck Apply.
The domain that's been altered should now reflect the updated PHP version accordingly in the list.
Can I Modify the PHP version for a Single directory? :
Yes, this is possible in most cases under EA4, but not from within cPanel itslef. It requires manually adding some information to certain files in your account and is beyon the scope of this article.