I did it in the hour I had before
It really is self explanatory.
After updating your SX payload, boot into the SX settings menu (Vol+ and power button combo).
I would say go ahead and confirm you have ample space on your SD card for the Emunand. After, go to the Emunand settings and choose the option to move the Emunand.
Next, rename your (Nintendo) directory on the root of your SD to (Emutendo). The process took about 40 minutes on my console.
The first time I booted the Emunand from SD, I thought my Switch had frozen, as I only saw a black screen. I gave it a bit and it loaded eventually. I assume read times will be a bit slower from the SD.
My saves and settings were all intact.