That tends to be the best approach, yes. You'll want to migrate tables beginning with the following.
_cbsubs
_comprofiler
_groupjive
That will cover all our products. It gets complicated when it comes to migrating Joomla users though. However, it's straight forward if you're migrating from Joomla 3.10 or Joomla 4 to a new Joomla 4. You'd just need to migrate the following to move your users as well.
_users
_user_usergroup_map
If you've setup custom ACL you'll probably want to migrate the following as well.
_viewlevels
_usergroups
Optionally you can migrate all of CB, empty _comprofiler, then use our export/import feature for just users to try and let CB deal with creating the users.
Be sure to make backups where necessary as full data migrations like this can be tricky.