Migrating from a customed themed to child theme “hello elementor”

Hello Guys,

I need help with a theme migration. Our current theme is outdated and causing issues. It only has a few shortcodes, few Elementor widgets, and some CSS code. The outdated theme doesn’t propose any costumization everything is costumized on elementor but contains shortcode like a filtered post grid.

I’m considering creating a child theme of “Hello Elementor” and transferring the existing shortcodes and Elementor widget code to it. Is this feasible, and are there any steps or precautions to ensure a smooth transition?

Thanks for your help.