Shrink ES Cluster size from 3 to 1 in ES 7.62

We are Running an Elasticsearch cluster with 3 nodes and we want to downsize the current cluster to run with only 1 node.

my cluster configs look like this.
node.master and is true on all 3 nodes and cluster initial master nodes is all 3 as well

node.master: true true ["", "", ""]
cluster.initial_master_nodes: ["", "", ""]

Now we want to have only one node in the ES Cluster by taking away the other two nodes.
what is the graceful way of doing it without losing any data?