Recommendations for mid 2011 imac 12,2?

I've been wrangling this old machine for years, it's almost a hobby at this point. Currently running High Sierra 10.13.6, and want to upgrade to at least Catalina 10.15.

Is this safe? Should I go with a newer os, or better to keep it to just Catalina? Will this slow down my mac? Are there any major pitfalls i should lookout for/be aware of?