The Redmi Note 7S is a better phone than the Redmi Note 5 Pro as it gives better specifications and at a similar price.
Let's compare the specifications-
Processor: The Redmi Note 7S comes with the Qualcomm Snapdragon 660 MSM8956 processor whereas the Redmi Note 5 Pro comes with the Qualcomm Snapdragon 636 processor. Both are great in terms of performance.
Camera: The Redmi Note 7S has a camera of 48 MP + 5 MP with F1.79 aperture whereas the Redmi Note 5 Pro has a camera of 12 MP + 5 MP with F2.2 aperture.
The Xiaomi Redmi Note 7S also has USB Type-C support.
Check their full comparison Xiaomi Redmi Note 7S vs Redmi Note 5 Pro
Recently Xiaomi released a list with the names of several of its devices which would receive MIUI Global Stable update.
The Xiaomi Redmi Note 5 Pro was in the list. However, the date is still to be confirmed.
In the meantime,do not forget to find all the detailed specifications and other latest updates regarding Xiaomi Redmi Note 5 Pro here.