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I've not done it before so I may well be speaking out my arse, but are you able to backup the old one to an external drive using time machine and restore the new one from that backup?
Edit: Looks like there's a built-in migration assistant that can do it also (which you can do either from a time machine backup, or another machine): https://support.apple.com/en-us/HT204350
Through some quirk of fate *, I ended up with a new MBP M1 Pro last week, but am about to get an identical one for a new job. Is there a super easy way to clone my setup from one to the other?
* Got layed off and laptops were part of the severance; mine was delivered a week before the layoffs.