Windows 10: Windows 11 Pro won't activate after reinstall

Last week Windows 11 Pro on my PC stopped booting the progress indicator just kept spinning indefinitely, without any apparent progress. I decided to do a clean reinstall of Windows and now it won't activate. My original license is a Windows 10 Home bought through the Microsoft Store, and later upgraded to Windows 10 Pro through the Microsoft Store. When Windows 11 came out, I used the free upgrade option. There were no hardware changes at all, just a clean reinstall of Windows.The activation page in Windows Settings shows error 0xC004F213. I verified that I'm signed in with the same account

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Free upgrade from Windows 11 Home to 11 Pro using 10 Pro retail license

My current computer has an activated Windows 10 Pro retail license. I'm planning to replace my current computer by buying a new computer that comes preinstalled with Windows 11 Home, and then I understand I can use my 10 Pro license to upgrade to 11 Pro for free.

What's the most straightforward way of accomplishing this? The obvious approach that comes to mind involves two steps:

1. Reinstall Windows 10 Pro on new computer and activate with my existing retail license.
   
2. Upgrade new computer to 11 Pro for free through the settings.
   

Is there a simpler way of doing this without having to reinstall Windows 10? For example, would it be possible to somehow "trade in" my Windows 10 Pro license for 11 Pro? I'm fairly new to Windows licensing and am just trying to understand what is possible/best practice, with minimal effort.