The current splunk cloud version is 7.1.3 and our splunk environment is 7.0.3 we are planning to upgrade which should we go with 7.1.3 or 7.2.1 ?
7.1.3 only has Limited availability in Cloud - You may not be able to get it. 7.2.1 is not available at all yet.
The currently available version is 7.0.8.2.