Intel 3rd Generation CPU Upgrade

Well, I’d like to upgrade my CPU processor to a latest release that I saw on the Intel Website. Okay, my processor is a 4th gen Intel core i7-4700MQ with 3.40Ghz but I want to upgrade to a 5th generation Intel core i7-555U that still has 3.40Ghz speed. I understand the 5th generations CPUs can handle better graphics. Is it a worthy upgrade? Will my HP-Envy i7 support the new CPU? Are there any other changes that will be needed or the new CPU to function correctly?
