Once you connect and confirm the import was successful, you could then upgrade the Enterprise Geodatabase portion. This could also be done before the export / import, as long as the 12c version is supported at the "updated" ArcGIS client level.
You should ensure that your enterprise geodatabase version, as well as the version of any connecting ArcGIS clients, is supported with Oracle 19c. Full support for Oracle 19c starts with ArcGIS 10.8. Oracle 19c is support with ArcGIS 10.7.x with a Support patch.
The following Technical Article describes the steps for importing an Oracle Data Pump export dump file by schema-- to import the SDE schema first to the new 19c database and check for any invalid SDE objects prior to running the full import.
