Whether or not you are able to update any iPad to a newer version of iOS/iPadOS will be dictated by the iPad model - and the currently installed version of iOS. You can find this information here:
Settings > General > About
Not sure which iPad you have? Identify your iPad model.
Here is a list of the highest version of iOS supported by the older models of iPad:
32-bit devices (obsolete)
iPad1 - iOS 5.1.1
iPad2, iPad3 and iPad mini1 - iOS 9.3.5 (WiFi Only models), iOS 9.3.6 (WiFi & Cellular)
iPad4 - iOS 10.3.3 (WiFi Only), iOS 10.3.4 (WiFi & Cellular)
64-bit devices
iPad Air1, iPad mini2 and iPad mini3 - iOS 12.5.7
iPad Air2, iPad mini4 - iPadOS 15.7.9
iPad5, iPad Pro (9.7"/12.9" first generation) - iPadOS 16.7
Newer models are all able to be updated to the current version - iPadOS 17.0.1:
- iPad Pro 12.9" (2nd generation and later)
- iPad Pro 11" (1st generation and later)
- iPad Pro 10.5"
- iPad Air (3rd generation and later)
- iPad (6th generation and later)
- iPad mini (5th generation and later)
You will only be able to update to the most recent release supported by the device. Updates are digitally signed by Apple - the signatures for preceding versions becoming invalid shortly after release of the new version. As such, intermediate versions of iOS/iPadOS are not available. More information below.
As for transferring data between devices - you can transfer data to another device that has the same or more recent version of iOS/iPadOS than the source. Put another way, you cannot transfer to a target device that has an earlier version than the source.
Transfer
These support pages should get you started with setup of your new iPad - and the methods of transferring your data from old to new iPad:
Set up your iPhone, iPad or iPod touch – Apple Support
Transfer data from your previous iOS device to your new iPhone, iPad, or iPod touch - Apple Support
Use Quick Start to transfer data to a new iPhone, iPad or iPod touch – Apple Support
If the donor iPad, from which you are transferring your data precedes iOS12.4, QuickStart will not be available.
“Transfer” is rather a misnomer. In reality, your data and setup is merely cloned to the new device. Nothing is moved or removed from the original device.
An alternative is to restore either an iCloud or iTunes backup to the new device:
How to back up your iPhone, iPad and iPod touch – Apple Support
Restore your iPhone, iPad, or iPod touch from a backup - Apple Support
Apps are not directly transferred between devices. For Apps, the transfer process creates a record of the Apps that are installed on the donor iPad - and it is this record of installed Apps that is transferred to the target (new) device. For Apps that are still available for download from the App Store, the corresponding Apps are automatically downloaded and installed from the App Store.
Update
If your iPad is capable of update to a more recent version of iOS/iPadOS than is currently installed, these support pages outline both the available methods by which the update can be performed - and troubleshooting should you experience difficulties:
Update your iPhone, iPad or iPod touch – Apple Support
If you can't update or restore your iPhone, iPad or iPod touch – Apple Support
If your iPhone, iPad or iPod touch won’t update - Apple Support
iOS update and restore errors – Apple Support
Be aware that while an iPad may be capable of update, in some circumstances you may need to use a computer to perform the update*. To do so, you will need access to either a Windows PC (with iTunes for Windows installed) or a Mac (with iTunes or Finder - as appropriate for the installed version of MacOS). Ensure that your installed version of iTunes has been updated to the most recent version; the essential device drivers are included.
Download and use iTunes for Windows – Apple Support
Update to the latest version of iTunes – Apple Support
Update software on iPhone, iPad or iPod touch in iTunes on PC - Apple Support
Update your iPhone, iPad, or iPod touch with the Finder - Apple Support
(*) If you don’t have access to a suitable computer of your own, that of a helpful friend or family member will suffice. Alternatively, the technicians at the Genius Bar of your local Apple Store or Apple Authorised Service Provider (AASP) will be delighted to assist.
Genius Bar Reservation and Apple Support Options - Apple
If you have a beta profile installed, ensure this has been removed from your iPad - as, otherwise, installation of production software updates may be inhibited. This support page provides the necessary information to remove the beta from your iPad:
How to uninstall iOS beta software - Apple Support
You should note that for your iPad to install an available update, its battery must be charged to at least 50% capacity - and/or be connected to its Power Adapter. Similarly, the iPad can only be updated over a standard WiFi connection - or be updated by a PC or Mac using iTunes or Finder - over a USB connection.