What’s the best way to set up my new MacBook Air M4 from an older MacBook?

I am replacing my 2016 MacBook Pro Intel Core7 running Monterey 12.7.6 with a new M4 MacBook Air. I have read conflicting things about the best way to set it up. It seems that using a time machine backup for everything may cause problems. I'm wondering if it's best to set it up fresh. If so should I migrate my account with migration assistant from the backup and then sign in to iCloud to get my stored info. I assume I would just download 1Password, Dropbox and Microsoft 365 as those are really the only apps I use. My photos are stored on iCloud. Perhaps I am overly concerned about simply using the time machine backup for everything. thank you

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