Yes you'll need to do a new install, per condition 4 on https://kb.pulsesecure.net/articles/Pulse_Secure_Article/KB44475, which links to https://community.pulsesecure.net/t5/Pulse-Secure-vADC/Upgrading-and-reinstalling-Traffic-Manager-Virtual-Appliances/ta-p/32981 for how to do it. Also please upgrade to the latest 21.1 now, not 20.3, because of https://kb.pulsesecure.net/articles/Pulse_Security_Advisories/SA44790
If the IP addresses stay the same then you can use the same licenses, which are in the backup file, otherwise you can raise a support case to have the licenses re-hosted to a new IP.
Note that there's a known issue with importing backups from versions before 17.2, which is that the network interfaces have changed names. To make the import work smoothly y ou can manually extract the backup tar and edit the files conf/zxtms/hostnames, change the interface names to match the new machines, then re-tar up the backup file. (Upgrading in place works because the upgrade process can see the rename happen, but importing the backup can't tell what the mapping from the old names to the current names is).
If you need further assistance with this and if you have an active support contract then please open a support case.
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