docs: updates to tracing section

[Pouyanpi]

Note

We need to update the documentation about the changes to tracing feature

• need docs update
• need to move migration guide to release notes or docs

The document is already there but the configuration guide and release notes require update.

see #1269
Originally posted by @Pouyanpi in #1269 (comment)

[Pouyanpi]

@miyoungc feel free to assign it to me if needed.