Transfer files to new iMac

Move your content to a new Mac - Apple Support (CA)

If the new computer is going to be the Apple Silicon M1 / M2 Equipped Computer - would suggest Only Migrating the User Account and nothing more.

Some have had success and others have been left with a mess when Migrating everything.

1 - Apple Silicon with either Big Sur macOS 11 or Monterey macOS 12 Only Support everything 64 bit and there is no workaround.

2 - Issues that may exist on the older computer will be migrated to the New Computer. This would badly pollute the new Original and Pristine installation of the new OS.

3 -  Applications, extensions and Software Drivers may or may not even work on the new computer.

4 - IMHO - it would be best to only install new application etc Directly from the Developer or the Apple Apps Store.

5 - Due Diligence on New Applications and make sure they are Monterey / Big Sur compatible and factor in the ARMs CPU of the Apple Silicon Computer  

I don't see a choice other than starting over, & using Disk Utility First Aid on both ends first.