Making a child theme in order to update the parent theme

From my answer to I modified the parent theme without creating a child theme (similar question)

As stated in a comment, any changes you made to the parent theme will
get overwritten with the theme update.

But, you could copy all of the parent theme code to a new theme
folder, adjust the theme header on the copy to make it a child theme.
You could activate the copied theme, or make it a child theme, and
then dig out the changes you made to the theme. Put those changes in
another theme folder, adjusting it to a new child theme name, then
activate that new (2nd) child theme.

All of this is a cautionary tale about the importance of child themes.