Migrate 1Password vaults to Apple iCloud Keychain?

iOS 16 has made iCloud Keychain more robust, with the ability to edit suggested passwords, 2FA, and the new Passkey feature. Meanwhile, 1Password continues to remove functionality for a premium fee.

As such I’m considering migrating to iCloud Keychain and terminating my 1Password account.

What’s then best way to migrate my data from my 1Password vaults to iCloud Keychain?