If you're not certain of the process, make a copy of your site or server, and test out the steps. That way you are finding out any problems or gaps in your knowledge on a test site, not the production site.
Between steps 1 and 2 take a database backup. A minor "point" release upgrade (such as from 3.11 to 3.11.4) is unlikely to have problems requiring rolling back to the previous version, but it's a safety net for you. And it costs nothing and takes minutes.
Between steps 4 and 5, if you have any additional plugins or themes then copy their folders from backupfolder into moodle. Optionally/ideally replace these plugins with any available updates for your Moodle version.
Step 5. Reboot server. This shouldn't be needed.
Instead of steps 6. and 7. consider doing this at the command line, for example:
cd c:\inetpub\wwwroot
php admin\cli\upgrade.php
assuming the correct version of php.exe is on your path. With major version upgrades (such as from 3.11 to 4.0) using the command line is recommended because it's not subject to timeouts, unlike upgrading via the the web interface. If an upgrade took two minutes and the web site was configured to timeout scripts after one minute then the upgrade could only be partially complete.
If you used Git to manage the Moodle source code folder then a minor version upgrade essentially becomes two steps: git pull to get the updated source code, and php admin\cli\upgrade.php to perform the upgrade.
