Hyperion 11.1.2.x supported migration paths to Release 11.2.x

 Here is a good read from Oracle !

You can move to Oracle Enterprise Performance Management System Release 11.2.x from Release 11.1.2.4.xxx, including Release 11.1.2.4.700 and Release 11.1.2.4.900. You must be on the latest patch for your release.

Table 7-1 Supported Paths to Release 11.2.x

Upgrade From	Upgrade To
Release 11.1.2.4.xxx, including Release 11.1.2.4.700 and Release 11.1.2.4.900	Release 11.2.x
For Oracle Hyperion Financial Close Management, you can upgrade only from Release 11.1.2.4_253+.	Release 11.2.x
For Oracle Hyperion Financial Data Quality Management, Enterprise Edition, you can upgrade only from Release 11.1.2.4.220. Note that PSU .220 is included in Release 11.1.2.4.700 and Release 11.1.2.4.900.	Release 11.2.x

https://docs.oracle.com/en/applications/enterprise-performance-management/11.2/hitis/upgrading_supported_paths_104x71f89913.html