Oracle E-Biz R12.2.5

> Oracle E-Business Suite 12.2.5 is the most latest version which is available at
> There is no direct upgrade from versions lower than 12.2.x to 12.2.5.

Customers who are on EBS 12.2.X can upgrade to 12.2.5 directly. EBS 12.2.5 is an Online Patch, it may be applied while EBS 12.2.X is running

Besides, please be aware of this:
During a full Online Patching cycle, Cutover( adop phase=cutover), will need a short downtime.
This downtime is used to promote the changes performed during patching and make them available to the end users.

That's to say, both DB+APPS tier service should be running during run adop phase=cutover, but cutover will shutdown and and switch the file system.
(adop phase=prepare
adop phase=apply
adop phase=finalize
adop phase=cutover
adop phase=cleanup)

Before you plan any upgrade of your E-Business system, check the upgrade path and various certified methods.
Some of the Oracle documentations which can help:
Oracle E-Business Suite 12.2.5 Readme (Note 1617458.1) Blogs from Steven Chan -

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