Chop and repot order of operations?

I inherited this fiddle from super lovely neighbors when they moved away. It’s about 8 feet tall. They never cut it bc they “didn’t have the heart to.” After lurking in this forum, I’d like to try to give it a big chop now that it’s getting warmer. I also want to repot it to refresh the soil and give the roots more room. Maybe this is a dumb question but what’s the recommended order of operations for these things?

Clearly, it would be easiest to repot when it’s shorter after I cut it. But will that be too much trauma for the plant to cut and immediately repot? Also looking for advice on where to chop, and how to manage the trimmings to make multiple propagations out of it. Thank you!