Deleting a post on your site should always be your last resort and 301 redirects are used as a way to remediate the damage that the deleted post would make.
Now, what would be appropriate in your case will depend on the type of website and post. If the post is ranked on google and has backlinks, it would be more beneficial to you to keep both the post and the page and to add a link to the page from the post, while keeping differences between both posts content and meta so that they are not marked as duplicate.
Otherwise, if your posts aren't put on a separate directory p.e. "/blog/post-name" and the title is SEO-optimized, you can just add the extra content and convert it to the page while keeping the previous backlinks and content.
If the old post doesn't have any backlinks, does not rank and has a URL that will be different from the page that you are looking to create, then the best solution would be to create a 301 redirect. After creating the redirect, the post will not be accessible by users or crawlers so you can go ahead and delete the old post.
Daniel Rika - Dalerio Consulting
https://dalerioconsulting.com/
info@dalerioconsulting.com