My Current XWiki version is 9.8.1. I need to migrate to the latest stable version 9.11.1. I have more data(created + imported) also modified configurtion in the current xwiki.
My migration to latest version should not affect those.
What would be best option i should prefer.
There is not really much options, the only real variation is on the upgrade of the WAR depending if you started from the all in one zip, Debian package, Docker image, etc.
From database upgrade point of view what you describe looks like a pretty standard use case so standard upgrade should be fine. See http://www.xwiki.org/xwiki/bin/view/Documentation/AdminGuide/Upgrade#HUpgradingwikidocuments.