Is suPHP needed, and why?

Hello,

I'm test driving centos-webpanel as a replacement for Plesk.
From what I have seen this seems like a great tool to get the job done!

But I'm wondering why suPHP is installed and how it is used.
As far as I know suPHP is dead and no longer maintained. So isn't it a security risk?
I saw some people talking here about removing it from existing cwp installations and using dso (mod_php?)

Do we lose the ability to switch PHP versions with the gui if we do this? Can't this be done with PHPFPM?
If its about running scripts with the rights of their owners, couldn't mod_suexec be a solution?

Greetings

Frank