I would advise against setting a static IP on the device itself as it can be a pain to connect to directly or with a new router, since you need the correct IP and subnet to connect to the device and if you forget what yhe IP and subnet was it’s a pain.
Another way is to specify the fixed IP from your router. You can allocate a specific range of static IPs and set themnon the router or let the DHCP server of the router assign the IP from the dynamic range and then fix the allocated IP to the device. That way it will always get the same IP from the router.
If you ever need to connect to the device directly or with a new router, it will get a new IP from the new router’s DHCP without having to figure out the IP you set on the device originally.
It’s also much easier to manage the IPs from all your devices from one central location and you can set fixed IPs for all your smart devices like bulbs and plugs this way too and even for your phone and laptop without causing other problems (setting a static IP on your laptop or phone will make it so that it doesn’t work on another network with a differen IP range)