Renaming a PNG to .svg doesn't make it a vector: SVG describes a picture with curves, not pixels. To get a real vector, the shapes have to be traced. That's what vectorizing means.
There are two ways. “AI vectorizer” uses the Recraft Vectorize model: it traces clean outlines, keeps the colors and smooth curves, and suits logos, icons and illustrations. It costs 2 credits per image and needs an account. “Quick trace” is free and runs in your browser, from black and white up to 32 colors; it's good for simple graphics, silhouettes and lettering.
The result is a plain SVG that opens in Figma, Illustrator, Inkscape, Cricut Design Space and laser-cutter software.