I am not seeing any issues in directly updating to the version you mentioned. You can first update iDRAC followed by NIC and BIOS. Note : In support site I could find 2.12.1 as latest for BIOS.  For NIC I could not find 19.0.12 for X540 and latest is 19.5.12. I assume you are going to update to 19.5.12.
Team, I had posted this question under the incorrect topic. I am posing here to get to the right teams. We need to upgrade the below firmware on 13G servers. Please let me know if a direct upgrade is allowed to the target version for each of these firmware. iDRAC Life cycle - current verison 2.61.60.60 and target version is 2.75.75.75 BIOS - Current version is 2.8.0 and target version is 2.11.0 Network Firmware is at 18.5.17 and target version is 19.0.12 Also, in the future, where do we refer to come up with an upgrade plan for each of these firmware. Thanks and Regards, Tom Pinto.
PowerEdge 13G iDRAC8 Upgrade Path