Migrating DCs from 2016 to 2022 while keeping the same hostnames and IPs

This topic has been discussed ALOT on this sub. From all the posts I've read, there seems to be two main approaches:

Have all DCs up – both old and new:

• Bring up new DCs with temp names and IPs while old DCs still running.
• Once you're sure all is good in your world, transfer FSMO roles to new DC, demote old DCs, remove from AD, then reuse the hostnames and IPs of old DCs on your new DCs

One at a time:

• Do one DC at a time, demote old, reuse name and IP on new server, then promote new DC

Honestly being as risk averse as I am (although I love the adrenalin rush when stuff goes south…NOT) – I would prefer to promote the new DCs while old ones still on line.

BUT…is it OK to change the name of a DC even after I clean up all the metadata and DNS stuff or would it be better to reuse the name and IP after I demote the old DC?

I should preface this question by saying we're a VERY small shop with 22 users and perhaps ~30ish servers. I'm the sole sysadmin. BUT, we are in the financial sector and we have a very low tolerance to stuff going south. And being the sole sysadmin, I'm trying to keep the stress at a minimum and my hair from going greyer.