I've upgraded to Big Sur. It's not necessary. If I was you I wouldn't bother.Is it necessary to install this update? If so, will I need to get a new Mac with more storage?
I used to agree with this but I don't usually wait more than a week or so these days. You've posted an article from 16 Nov ie over 3 weeks ago and Apple have since provided advice for these models - https://support.apple.com/en-us/HT211242. The current MacOS is already at 11.01. It is not particularly unusual for machines both Windows and Mac to hit a rock in the road and not restart entirely without a hitch after a major OS update. Good old fashioned "switch it off then switch it on again" if it hangs or fails to restart works around 80% of the time I find. There's quite a bit of commentary also that the people who encountered problems with Big Sur had left eg SD cards or other external devices plugged in during their update.in general its best/safer to not update to the first version of a new operating system, wait until a few subsequent minor versions have been released that fix major teething issues with the OS.