Have to migrate to Windows 11, best way to move all files, folders, programs, etc.?

I don't need or want a OneDrive (subscription). I have 3TB's of applications and data, very specific scientific software applications that will never be in the Microsoft app store. I backup weekly via backup settings>Go to Backup and restore (Windows 7). Will restoring this backup in Windows 11 provide a complete carbon copy of my old file structure, logins, etc.? Or should I connect both PC's to the same LAN and use Windows backup. Sorry if this was covered already but I couldn't find a clear answer online. All of Google's search results steer me to solutions involving OneDrive.