Hello,
Thank you for posting in Microsoft Community forum.
Based on the description, I understand your question is related to in place upgrade.
Technically, performing an in-place repair or upgrade of a Windows Server 2022 using an ISO should retain your file shares and permissions. As long as you choose the option "Keep personal files and apps" during in place upgrade.
An in-place upgrade allows you to upgrade to a same or newer version of Windows Server while keeping your settings, server roles, and data intact.
Note: For the sake of double security, it is recommended that you back up your important data first to prevent unknown issue during the upgrade.
Have a nice day.
Best Regards,
Molly