The ipv4 address of the master parameters would also
need to be updated for all of the controllers (MD) for them to be able to talk to the new setup:
There are also other options like removing the backup MM, enabling L3 redundancy and having all of the MDs talk to that L3 redundant MM at the destination as an interim step, so all controllers will not have to be moved at the same time.
Long story short, it is not a simple migration and the timing and the order you would do them would be specific to what you have setup currently and what downtime you are willing to accept. I would definitely practice this in a lab if you have one, but seek help, because it is not easy, especially if your MDs are physically separated with no console connections to rescue you if MDs are orphaned..