Question - How do I upgrade on a hot replication setup?
Answer -
If you are upgrading pre-3.23.26 versions, you should just lock the master tables, let the slave catch up, then run FLUSH MASTER on the master, and FLUSH SLAVE on the slave to reset the logs, then restart new versions of the master and the slave. Note that the slave can stay down for some time - since the master is logging all the updates, the slave will be able to catch up once it is up and can connect.
After 3.23.26, we have locked the replication protocol for modifications, so you can upgrade masters and slave on the fly to a newer 3.23 version and you can have different versions of MySQL running on the slave and the master, as long as they are both newer than 3.23.26.