How do I transfer my old digitized CDs stored in iTunes transferred to my new MacBook Pro that uses Music and Monterey?

I've been using an iMac to store my digitized collection of CDs and playing through iTunes (Big Sur OS).

I just purchased a MacBook Pro with Monterey iOS that uses the Music app.

How do I transfer my music files to my new laptop? Can I play my songs in the new Music app, or is it only for Apple Music rental/subscription?