If above article is correct the then I can leave the below as its ?
The Windows 2003 domain Functional Level is Windows 2003Forest Functional Level is Windows 2000. (Can I leave as it is ?)
From a windows-active-directory perspective it should be doable.
https://video2.skills-academy.com/en-us/windows-server/identity/ad-ds/plan/identifying-your-functional-level-upgrade#upgrading-functional-levels-in-a-native-windows-2000-active-directory-forest
I'd ask the exchange related questions over here.
https://video2.skills-academy.com/en-us/answers/topics/office-exchange-server-itpro.html
--please don't forget to Accept as answer
if the reply is helpful--