I'm on 16.04 and I have no problems with that. I use the repositories of the developers, so I get the latest versions. I use Canonical's repositories for the OS and the software I don't really care much about. I had no problems with this approach (LibreOffice, PostgreSQL, etc). I occasionally run some software in a docker container to get the latest version, or to run multiple versions of the same server application (example: I've got two Redis for two different projects). Asdf [1] can manage multiple PostgreSQL versions (and several languages).

The real advantage of staying on a LTS has been no big updates and no changes in the GUI. I'm on Gnome Flashback which I tweaked to be as closed as possible to Gnome 2. It seems that Gnome Shell eventually got enough extensions to also make it look like Gnome 2. I'll give it a try again after those memory leaks will go away. I can probably stick to 16.04 for another year before developers start skipping it in their builds.

Edit: I checked and I have git 2.17.0, which is the latest version. I keep it up to date with ppa.launchpad.net/git-core/ppa/ubuntu

[1] https://github.com/asdf-vm/asdf