Best strategy for moving to new instance?

We’re running self-managed omnibus free-tier core currently on 11.9.6 and we’re planning to stand up a new cloud-based instance and move our projects etc. to it.
From what I can tell here any move requires that both the source and destination be on the exact same version/release.

We’re looking to prevent any significant downtime (handled over a weekend at worst) and not sure which approach would be best.

  1. Stand up the new instance with 11.9.6, move the data over, then deal with upgrading the new instance.
  2. Migrate the new instance up to current, then copy the data over to the new instance.

Regardless of which approach, the upgrade path would be:

  • Upgrade to 11.11.8
  • Upgrade to 12.0
  • Upgrade to latest
    There would be a fair bit of time required along the way to allow data migrations to happen. We would rather not deal with the upgrades on the original instance so that we can get things up and running on the new instance ASAP. We can take our time upgrading the new instance once it’s up.

Is there any good reason not to choose option 1?

Thanks!

Anyone have thoughts on this?