How to upgrade kernel version in centos 7

Before upgrade

$ cat /etc/centos-release
CentOS Linux release 7.4.1708 (Core)

$ uname -r
3.10.0-693.el7.x86_64

$ cat /boot/grub2/grubenv
saved_entry=CentOS Linux (3.10.0-693.el7.x86_64) 7 (Core)

Install the newer kernel package

$ rpm -ivh kernel-ml-5.7.12-1.el7.elrepo.x86_64.rpm
warning: kernel-ml-5.7.12-1.el7.elrepo.x86_64.rpm: Header V4 DSA/SHA1 Signature, key ID baadae52: NOKEY
Preparing...                          ################################# [100%]
Updating / installing...
   1:kernel-ml-5.7.12-1.el7.elrepo    ################################# [100%]

$ rpm -ivh kernel-ml-devel-5.7.12-1.el7.elrepo.x86_64.rpm
warning: kernel-ml-devel-5.7.12-1.el7.elrepo.x86_64.rpm: Header V4 DSA/SHA1 Signature, key ID baadae52: NOKEY
Preparing...                          ################################# [100%]
Updating / installing...
   1:kernel-ml-devel-5.7.12-1.el7.elre################################# [100%]

$  rpm -qa | grep kernel
kernel-ml-devel-5.7.12-1.el7.elrepo.x86_64
kernel-3.10.0-693.el7.x86_64
kernel-tools-3.10.0-693.el7.x86_64
kernel-ml-5.7.12-1.el7.elrepo.x86_64
kernel-tools-libs-3.10.0-693.el7.x86_64

Set the default boot kernel entry

Notes: if /etc/grub2.cfg does not exist, do next step to rebuild the GRUB2 and come back later after that.

$ awk -F\' '$1=="menuentry " {print $2}' /etc/grub2.cfg
CentOS Linux (5.7.12-1.el7.elrepo.x86_64) 7 (Core)
CentOS Linux (3.10.0-693.el7.x86_64) 7 (Core)
CentOS Linux (0-rescue-8ef36acf9f544b90bf0621450fe05f75) 7 (Core)

$ grub2-set-default 0 
$ grep saved /boot/grub2/grubenv
saved_entry=0

Rebuild the GRUB2 configuration

$ grub2-mkconfig -o /boot/grub2/grub.cfg
Generating grub configuration file ...
Found linux image: /boot/vmlinuz-5.7.12-1.el7.elrepo.x86_64
Found initrd image: /boot/initramfs-5.7.12-1.el7.elrepo.x86_64.img
Found linux image: /boot/vmlinuz-3.10.0-693.el7.x86_64
Found initrd image: /boot/initramfs-3.10.0-693.el7.x86_64.img
Found linux image: /boot/vmlinuz-0-rescue-8ef36acf9f544b90bf0621450fe05f75
Found initrd image: /boot/initramfs-0-rescue-8ef36acf9f544b90bf0621450fe05f75.img
done

Reboot the system

$ reboot

Verify the new kernel version

$ uname -r
5.7.12-1.el7.elrepo.x86_64
$ cat /etc/centos-release
CentOS Linux release 7.4.1708 (Core)

Reference