For a greater version jump I actually recommend creating a new project and then pasting your source and configuration there.

For usage with Yoeman and Node 22:

1. Install the new node version, e.g. with Node Version Manager (nvm):

   1. nvm install 22.20.1 # Will be supported until 2027

   2. nvm use 22

2. Install the required global packages for the new node version:

   1. npm install -g gulp-cli yo @microsoft/generator-sharepoint @pnp/cli-microsoft365

3. Execute yoeman in a new folder with your solution name to create your new solution

   1. yo

      1. SharePoint

      2. Webpart

      3. React (or the one you need)

      4. Original project name

4. Install packages

   1. npm install <your additionally required packages>

5. Adjust and overwrite

   1. config.json (overwrite)

   2. package-solution.json (overwrite)

   3. serve.json (overwrite)

   4. src folder (overwrite)

   5. package.json: "version"

   6. .yo-rc.json: "libraryId"

   7. .eslintrc.js, tsconfig.json (adjust as needed)

6. Test

   1. gulp build

   2. gulp serve

   3. Test in Browser (Workbench)