In this reaction, chlorobenzene (\( {C}_6{H}_5{Cl} \)) is converted into phenol (\( {C}_6{H}_5{OH} \)) by the reaction with sodium hydroxide (NaOH) at high temperatures and pressures. This is a type of nucleophilic aromatic substitution, which requires higher temperatures, typically around 623 K.
Thus, the correct answer is (E).