You can make your wife's account an admin account and she can administer the Mac. If you have data files in your own account that you want to "transfer" to her you could just move or copy them to her Shared folder ... or IMHO even easier just put them all in a single folder and change the permissions on that folder for Everyone = Read & Write and apply to all files contained in the folder.
In general terms there is no real priority among multiple admin users ... all admin users have the same privileges except that they each have their own user account. But there IS one difference that applies to the first created admin account on the Mac, for which reason I strongly suggest that you NOT remove your current (what you called "main") admin account or change its status to Standard User:
- It was the first established account on the new M4 Mac. That account is the only account that has something called the Owner Identity Certificate (OIC) associated with it. Not much is known about the full purpose of the OIC so it would be prudent not to disturb the admin account it is associated with.
- One area where the OIC comes into play is if you ever attempt to install a new boot volume or install macOS on an external drive ... you will only be able to do it from the admin account that is the Owner.
Also, it is good practice to have at least 2 admin accounts on your Mac so you are not left high-and-dry if your only admin account were to go bad for some unforseen reason.
For a bit more information about Ownership, see this article: Ownership means two different things in Macs: how to tell them apart