ARM Upgrade from 11.1.2.2 to 11.1.2.4 Queries

Hello,

We are planning to upgrade ARM 11.1.2.2 to 11.1.2.4 version & planning to upgrade in new servers.

so want to know pros/cons upgrading from existing server (11.1.2.2.500) to new server (11.1.2.4).

Also, how we can migrate ARM Historical data which is exist in current server? If we can't directly, Is there any other way to upgrade historical data to new servers? or below options will work out?

--> cloning of serer to physical box and then upgrade (will this work?)

--> doing in-place upgrade in existing machine (if we can proceed with this what is the pros/cons, as already we are in performance issues)