Can I regress from 7.3.5 to 5.4.7.2?

I’ve created and work on a spreadsheet on Calc 5.4.7.2. I want to start using 7.3.5 but be able to return to 5.4.7.2 if I choose to.

If I add data and save the document on v7.3.5 for a couple of months, will I then be able to add data and save it with v5.4.7.2?

I did a quick test and it worked but want to make sure there will be no surprises in the future.

I won’t use features that exist in the newer version but not the older.

Why should you want if not you also downgrade to an older OS version not supporting recent LibO versions?

Did you once more check LibreOffice 6.0: Release Notes - The Document Foundation Wiki and the release notes for all the (main / second-digit) versions since?
Did you consciously decide to be willing to omit all that?
Did you make sure you never used (e.g.) newly introduced spreadsheet functions anywhere?
Are you sure the enhancements concerning calculations are irrelevant for you?
Are youi surte to NOT need one of the newer or enhanced import/export filters?
Are you sure you don’t want to be able …?

Well, there were changes to the UI that may feel annoying to users familiar with older versions (and )I also didn’t like many of them). But this process now is no longer actually rapid.
And be sure: There never will be bug fixing for “dead” versions. It’s simply impossible.

Yes you will be able to open Calc files (ODS) in older versions. Even if the files will contain features from newer versions, they would be readable by older versions (unless you discover a bug in the older version, which prevents something from opening, which neither can be known in advance, nor specific to old version opening new files) - of course, with the newer features either removed, or misbehaving (e.g., new functions would be not recognized, and the formulas with them would show errors on recalculation).

You may also see data loss, e.g. when you open spreadsheets making use of >1024 columns (already available in 7.3, even though only when you enable it in settings) in older versions (so that everything outside of supported area will vanish). But you told that you will not use such features (hope you really know all of them)…

Thank you.

As far as I know downgradiing installers can’t install “over” a more recent installed version. The younger version must be removed in advance.
Did this change?

No. You still need to uninstall the newer version to be able to install the older one, at least on Windows. Or use portable or parallel installation.