I updated a laptop as a test via the installation assistant. Took about 30 mins from start to finish....longer than a 'service pack' type update but not too bad and no outside assistance needed. Very painless.
Seemed to migrate 'most' settings but some not quite right (compact view in folder lists for example)
ilok was fine
elicencer had the usual upgrade/corrupt error but running as Adminstrator fixed it (as always)
MS does the usual annoying practice of quietly installing stuff you almost certainly don't want, MS Teams for example - plus lots of shortcuts to Solitaire, Adobe lightroom and other rubbish.....(sigh). A few odd things pop into the Startup Apps group too
The whole start menu area is a bit of a car crash IMO - you can remove the 'recommended' files but you end up with a big blank area...The 'pinned app' area isn't big enough and you can't organise it. It's a step backwards.
Lot's of other small irritations like enabling the 'startup sound', or making 'right click' on the taskbar pretty useless, but hey, that's progress.
The new look is nice but lots and lots of inconsistences in how it is applied across various settings windows etc....usual MS mish-mash.
Everything I've tested seems to work as before but unless you MUST have rounded edges on your windows I can see zero reason to upgrade at this point (apart from to take a look

) ....and lots of reasons not to upgrade on your main DAW pc.
YMMV