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There is a "server task" named "DLP Policy Conversion". This is supposed to convert your 9.3 policy to 9.4 since the format has changed.
Thanks for your answer,
Did you already test this because the client environment is a production environment so we can't do test easily.
I will check in the console to verify,
Running the conversion task doesn't have any affect on existing 9.3 configuration/policy. It will simply convert existing 9.3 policy into 9.4. 9.3 & 9.4 are completely separate, what you do in 9.4 doesn't affect 9.3 and the reverse is also true.