This tutorial goes through how to install openssl 1.1.1 on CentOS 7, since the yum repo only installs up to openssl 1.0.
Upgrade the system
yum -y update
Install required packages
yum install -y make gcc perl-core pcre-devel wget zlib-devel
Download the latest version of OpenSSL source code
wget https://ftp.openssl.org/source/openssl-1.1.1k.tar.gz
Uncompress the source file
tar -xzvf openssl-1.1.1k.tar.gz
Change to the OpenSSL directory
cd openssl-1.1.1k
Configure the package for compilation
./config --prefix=/usr --openssldir=/etc/ssl --libdir=lib no-shared zlib-dynamic
Compile package
make
Test compiled package
make test
Install compiled package
make install
Create environment variable file
vim /etc/profile.d/openssl.sh
Add the following content
export LD_LIBRARY_PATH=/usr/local/lib:/usr/local/lib64
Load the environment variable
source /etc/profile.d/openssl.sh
openssl version
It seems like that you have to rebuild, yes. Didn't know that apps seem to be linked to libssl.so.10 which is not getting replaced if you rebuild it like this. If you just replace it, stuff stops working, so it seems you need to rebuild packages with the new version.