From the manuals ,I think that it connects to the 7i77 via cat6 cable ?
Yes, cut one in half, wire one side to Mesa 7i77 and insert the RJ45 in Mesa 7i84.
How do I update the software to accomodate the 7i84 ?
You do not.
It just works, it is a Smart Serial card.
You do have to edit the hal file, though. Or not, it might already be in PncConf.