I’ve put a lot in 401k in last 1-2 years and my allocations are out of whack— what’s next?

Long story short I’ve paid back a lot of a 401k loan I used to purchase a 2nd house (which we sold and cashed out the equity in) and have a pretty aggressive contribution rate to my 401k. I set it and forgot it for too long and I’m now sitting in 35% stock, 35% bonds, 22% short term, and remainder other. These are through relatively high fee asset specific funds.

I tend to prefer minimum variance to optimal risky and have already updated my go-forward contributions to match a target date fund with the most optimal fee and asset combination out of my available options and my risk tolerance.

I also want to move most if not all of my balances to this same target date fund from the prior allocations, particularly because it’s a much lower effective fee option and the asset blend is a bit more aggressive. So my question for you all is, would you do this as a 1-and-done or more gradually shift into the target structure? Not talking millions here but also not 10s of k either.