Try npm install -g typescript@latest. You can also use npm update instead of install, without the latest modifier.

I found answer in here

First use npm install your expect typescript version in your project

Then, open gulpfile.js :

const build = require('@microsoft/sp-build-web')

// Add the following code：
const typescriptBuild = require('@microsoft/gulp-core-build-typescript')

typescriptBuild.TypeScriptConfiguration.setTypescriptCompiler(require('typescript'))

// Finish
build.addSuppression(`Warning - [sass] The local CSS class 'ms-Grid' is not camelCase and will not be type-safe.`)

build.initialize(require('gulp'))

Finally run gulp serve, you will see the new version with typescript:

Starting subtask 'tslint'...
Starting subtask 'typescript'...
[typescript] TypeScript version: 4.4.3
Finished subtask 'copy-static-assets' after 867 ms

Maybe you will have a typescirpt error with 'dateVersion'

you can fixed like this

// @ts-ignore
protected get dataVersion(): Version {
  return Version.parse('1.0');
}

But even so, gulp compiles with Fluent8 and react@17, but it doesn't actually run on workbench projects

As for react@17, spfx workbench looks for react from node_modules/react/dist, but react@17 does not have this directory, so a 404 error will be reported