Installing old MAC OS on new laptop

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Joined
1 Jul 2012
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891
I’ve got a new M3 coming today to replace my late 2011 MBP.
Currently I have a Time Machine back up but haven’t been able to update the OS for years because of hardware limitations (presumably) so am running High Sierra.
My question is can I run and install my Time Machine back up on to the new machine and update the OS?
Is that the best / only way to get my stuff on to the new machine?
 
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