There are several ways to migrate data from TFVC to Git. The simplest way is to do the migration in TFS itself. You can use their own import/export tools from the https://docs.microsoft.com/en-us/azure/devops/repos/git/import-from-tfvc?view=azure-devops&tabs=new-nav&viewFallbackFrom=vsts website.
There is also another tool that can be used for migration. It is possible to have a bi-directional gateway between TFS and Git, just like there is with git-svn. It can put TFS commits into a Git repository, and allows you to push back changes to TFS.
The existence of these tools is caused by the fact that Microsoft internally switched to Git years ago and they have contributed a lot of source code to the codebase of Git. That is why it is standard (especially with Azure) to create new repositories using the Git format nowadays.
