Software and applications are the Achilles’ heel of the information technology; when they reach end of life which is inevitable, or when they are not updated in high enough frequency, protocol suggests to stop using them altogether.
However, a lot of applications are mission critical for an organization.
In this case, and as I have seen and applied in the wild, one of the ways to continue using them is to isolate them from the rest of the network.
Isolating specific pieces of software or applications from the rest of your IT environment is by running them inside dedicated virtual machines there by cutting them off from most of the rest of the network.