Backward compability for Azure Managed Instance, Azure SQL server and SQL server

Dear Community

I’m thinking about moving database located on SQL Server 2012 to Azure managed instance or SQL server 2019.

I was reading about backward compatibility of those two sql server models and it seems both of them support databases even from SQL server 2008,

but if I got it right, beside of backward compatibility, I need to check changes in datatypes and deprecated system procedures, because this is not covered by backward compatibility

Am I correct?

Article:
docs.microsoft.com/en-us/sql/t-sql/statements/alter-database-transact-sql-compatibility-level?view=sql-server-ver15