Don’t forget your passwords and bookmarks stored in browser when doing the copy over.
Personally, I’d use Full Disk Encryption (FDE) because it’s a default option on the Fedora installer and is more secure, and well-tested, and easier to configure.
For your planned installables, I’d keep a list of apps you regularly install in a file somewhere (even better would be a script which installs them all) then when you distro-hop it’s easier as you can just change your script for whatever package manager.
Some of your apps will store their configuration in your home directory in a dot file, you might be able to copy these over one-by-one for each app.
Have you decided on Fedora Workstation or Fedora Silverblue? Each have their merits and demerits, and its worth investigating.
Plan sounds alright. A couple of notes.