The SAP S/4 Hana Cloud is not allowing any significant customizing. It is a pre-configured system. So, if you want to "convert" your existing highly customized system into that pre-configured system, you fail, unless you use a Greefield approach.
For Greenfield implementation - New implementation is recommended. ( Best practices option)
Migration would be already to HANA platform... so not sure if this is a differentiating factor.
I am not sure from this answer anyone can check please
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