Updating WordPress across multiple versions

I think it depends on the plugins which way will be better. I had a similar situation with this many plugins, but i had to update WordPress just from 4.7 to 4.7.3. My update order was:

  1. WordPress
  2. Theme
  3. Plugins
  4. Translations

If you are not sure, i think the best way is to copy your WordPress to a private server (for example you can use XAMPP on your local computer) and test the update process in there. If all works, it should work on your real instance as well.
Read this article for more information on copying your WordPress instance.