How to move Cubase to a new Mac and upgrade to Cubase 12

I currently use Cubase 10.5 Pro and I want to update to version 12 however, I also just purchased a new Macbook and want to move over to that. So what is the best way to do this? Can I do a fresh install on the new machine or should I copy it somehow from my old one. Also, can I keep the original Cubase 10.5 on my old Mac or do I need to update that too? Finally, what is the correct order to do this migration? Should I first update on my old machine and then switch over or can I just install on my new Mac?