I asked myself the same question last week. Updating from Expo 52 to 54 is disliked. It's better to first upgrade to Expo 53 and if that succeeds, update to 54.
NOTE - Upgrading Expo version is always a breaking change
Start with installing Expo 53
npm install expo@^53.0.24
If the install succeeds, update all dependencies.
npx expo install --fix
If the second step succeeds, check if everything is oke
npx expo-doctor
Only do this when you have an android or iOS folder
I use prebuild because of native iOS & Android changes that had to be made. The fastest option is to just start over again in this case using the following command
npx expo prebuild --clean
After adding all my changes again to the native files and fixing some additional errors, the builds succeeded again!
Finally, if Expo SDK 53 is successfully installed, building succeeds & the application works as usual, do every step again but change expo@^53.0.24 to expo@^54.0.0.