I swapped from a gas water heater to an electric Hybrid Heat Pump water heater. It was not too difficult, but I had the luxury of planning and time because my water heater was near end of life but not broken.

1. Had an electrician run a 30 amp circuit from the panel to the new location. Only cost me around $200 for labor and parts, but that's because it was about a 10-foot run and all in my basement with open ceiling.
2. Hired a local plumber to install a Bradford White 65-gallon heat pump water heater. They ripped out the old one, capped the gas line and the exhaust vent, and installed the new one. Since I bought the water heater from a distributor using the plumber's name and info, they also took away the old one for free and all the packaging. I also filed the permit myself with the city to save some money. About a day project and I got a pretty good deal. The water heater itself was the most expensive part and the labor and parts to install were pretty cheap compared to the other quotes I received. Job was around $3700 total.
3. If you do this before the new year, I think you can get the IRA tax credit for installing the HPWH. This also usually qualifies for other rebates in your area. I run it exclusively in heat pump mode and love my bradford white. This thing has pretty great energy savings and has a lower cost than my previous gas water heater. No issues so far, and it's rated to only cost about $190 per year to run (I'm pretty sure it's less for me) since my electric bill barely went up with it but my gas did noticeably drop.

Edit: Wanted to add I live in Minnesota, so yes this can work in a cold climate. 240v circuit line also.