Convert a bitmap logo to vector

I have a bitmap logo that needs to be converted to a vector artwork, preferrably Adobe Illustrator 2020 or earlier. The text in the final vector should remain editable text. Paths and colors should be as accurate as possible so ideally the final vector reproduction will appear indistinguishable from the reference logo. The logo is over 15 years old and I have no other information on it, such as colors or fonts, so it's expected that the designer will be able to interpret whatever is needed from the image alone.