Hello @Sandhya Sandala,
welcome to this moderated Azure community forum.
Good question, I checked the documentation and it seems existing operations are not harmed:
... you can upgrade from the basic tier to the standard tier without interrupting your existing operations.
In this case, it's written in the context of moving from the basic tier to the standard tier.
Overall, your device needs to be stable enough to al least withstand a short period (think of minutes) of having no connection.
This can be a broken connection to the internet (eg. no wifi or expired certificate) or no connection to the IoT Hub (eg. it's reaching the maximum amount of messages per day).
As an alternative, a Device Provisioning Service could offer safety by switching over to another IoT hub in case the connection is not stable enough as expected.
I recommend testing these scenarios, including automatic reconnection (with a cool-off period) when the DeviceClient gets disconnected.
If the response helped, do "Accept Answer". If it doesn't work, please let us know the progress. All community members with similar issues will benefit by doing so. Your contribution is highly appreciated.