Yep, I moved from Ubuntu 20.04 to Debian 11 for the same reasons during the Christmas holidays. I'll live boot Debian 12 and check how it copes with my 2014 laptop.
The main hurdle is the NVIDIA graphic card. Sooner or later the proprietary driver for X11 will stop supporting it by and who knows if the one for Wayland will work. I remember I had problems with Wayland so I went back to X11. The card is a Quadro K1100M.
A lot of laptops with NVIDIA graphics still had integrated graphics on the CPU, and the Intel drivers are much better if all you need is to drive the display. (And if you're trying to put a load on the GPU with something so old then you're screwed anyway.) See if the BIOS has a setting to disable it.
The main hurdle is the NVIDIA graphic card. Sooner or later the proprietary driver for X11 will stop supporting it by and who knows if the one for Wayland will work. I remember I had problems with Wayland so I went back to X11. The card is a Quadro K1100M.