Hi Jim,
Yes, right.
11.2.0.2 and older releases are no longer supported from Oracle (means from SAP as well), so these do not receive any SBP further on. We could say, currently 11.2.0.3 and 11.2.0.4 only is touched by this change.
The same procedure, changing the Oracle_Home is possible within the same release as well. Meaning, setting up a new Oracle_Home (install software) install the SBP there and use this new Oracle_Home for the same Oracle Instance later on. So the downtime, is minimal.
The whole procedure is documented in the below note:
1696869 Patching of Oracle Homes with Minimal Downtime
Regards,
János