Import photo library from external drive to new library in photos on new Mac

I used to keep my photo library on an external drive - in fact it was a iPhoto library that had previously been an Aperture library. I did once convert it to a photos library so it should be good to import to my new MacBook Air M2. Do I jus copy the Pictures folder somewhere in the Finder on the new Mac and then Alt-Open Photos to choose this as the library or is there another way to do it that is better? I want to move it all to the new MacBook Air to take advantage of iCloud features, plus I now have enough storage on the new MacBook Air that I used not to have on my 2008 iMac.

At one point I had opened the Library on my prior MacBook Air (2015) which wouldn't run Ventura but ran Monterey so it converted to a Photos library. It never finished recognizing all the Faces for some reason even though I left it plugged in an not sleeping for several days. I can't remember if I have to have Photos closed or open for that to happen.

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