I agree with what Anthony posted above and I would add one wrinkle.
After the upgrade, leave your databases at the old compatibility mode for a period of time. Run Query Store to gather metrics on your databases. Then switch the compatibility mode. If you have any major regressions, you can use plan forcing in query store to deal with them. Whether or not you continue using Query Store after that to gather query metrics is a different decision. You can leave it enabled, but not have it gather metrics. This allows you to do plan forcing without adding overhead to your system.