What do you want to acheive?

If you made a transaction to a wrong address or you don't want the transaction to get confirmed for any other reason, cancel it. Even if the transaction stays unconfirmed for months, it is still possible that it will be confirmed in the future.

If you want the transaction to get confirmed faster, do RBF. With canceling a transaction and making a new one, you will waste some money because you will pay fee for two transactions instead of one.


Edit:
You made a new post while I was writing.
As I said, you didn't have to cancel the transaction and make a new one. With doing so, you wasted some money on transaction fee.