Just found out that the theme we are using for our site (hosted via Kinsta) will not be updated again. (https://themeforest.net/item/atelier-creative-multipurpose-ecommerce-theme/11118909) Curious what everyone thinks our best option for moving to a new theme would be here. We use a combination of the block editor for some "main" product pages, also have a journal with posts and integrate woocommerce to sell hardware products and soon software licenses.
Finally, curious to know what the going rate if we hired someone to do this transition. Obvs I understand it would be dependent on how many pages we are talking about, but maybe a ball park for a small business with under 10 pages created with the block editor? We mostly sell hardware through 3rd parties (though US customers could purchase through our website), so our website isn't our main business portal, but rather a place that explain our products and links outward. We are interested in selling more in the future from our website directly using woocommerce and the API integration for license management as we move into software.

Oof, that theme hasn’t been updated since ’22! You need to be much more vigilant when it comes to keeping themes and plugins up to date.
The time needed to convert the site depends on how the pages were actually constructed, and how complex they are. Generally posts shouldn’t be built using a page builder – just classic editor is fine, so those shouldn’t need to be converted.
Hourly rates vary wildly across the globe from $10ph, to $250ph (or higher). You might get lucky with someone competent on Fiverr (but I doubt it). Codeable.io actually verify their contractors skills.