Update 3.4 to 4.0

I’m trying to upgrade from 3.4 to 4.0 but took forever on db conversion (piwik_log_link_visit_action.ibd is 53gb) running - ./console core:convert-to-utf8mb4
My planned steps were that, file copy and then run database upgrade -
/var/www/piwik/console core:update is that correct, two things on db required ? Any ideas how to estimate to the business how long it will take ? archive cron is on.

If you run a so big database, you’d better stop archiving jobs. You can run lately after upgrade activity.
Then you’d better put matomo in maintenance mode, also. Doing the activity during lo traffic times.
Remember to start with a full backup.
Time spent it depends by the technical evironment of your setup.