Open the Microsoft Authenticator app on your new phone. Tap Begin recovery. Sign in to the Microsoft account (iCloud for iOS users) you used to back up your data on your old phone.

Open the Microsoft Authenticator app on your new phone. Tap the “+” button to add an account. Choose how you want to add the account (e.g., scanning a QR code, entering a setup key).

Microsoft Authenticator will also be deleting any saved payment methods you have. As inconvenient as that may be, ... (Android, Windows, and Linux), and luckily, BitWarden can also do 2FA.