Migration Assistant has options to select what you want to move over.
- Applications
- Users
- Other files & system settings
Applications are best avoided IMO, they can be reinstalled with the current version as you need them, otherwise this brings over many supporting files (Garageband loops etc).
Users is probably what you need, it does keep all the old preferences & other junk in your account (some apps keep supporting files in the user Library etc).
Other files & settings can probably be left behind - you may not need the old network config etc. It will include files that are stored at the base of the disk - but frankly this location is really intended for the OS, your user folder is really where your files should live (or in /Users/Shared for everyone to access).
If you do clean install, setup the Mac with an admin user that has a name different to your current user accounts. Login & launch Migration Assistant when you are ready. Migrate the users you need, after migration if you find the user account is cluttered you can delete the migrated user via the admin account & start over.
Personally I avoid Setup Assistant on any Mac that has been used for a few OS versions, too much junk is just not helpful, it fills backups & merely gets in the way when troubleshooting.
Manually moving files to a user account is tricky - the OS will lock some files when you are logged in & overwrite other files when you log out (mostly preferences), if you log out & use a different user for the copy process the permissions can get in a mess. It is not unfixable, just best avoided.