Hello,
Once you have upgrade the SEPM to the 12.1, then migrate all the GUP clients first and then all the client machines.
"The recommended order is to upgrade all Symantec Endpoint Protection Managers, Group Update Providers, and then the remaining clients as needed."
Please take a look at the latest how-to article created by our very own SEP content council team.
Best practices for upgrading to Symantec Endpoint Protection 12.1.x
http://www.symantec.com/business/support/index?page=content&id=TECH163700
It is recommended to have the SEPM and GUP clients of the same version. Group Update Providers that run earlier versions of Symantec Endpoint Protection cannot deliver content updates to clients that run the current release of Symantec Endpoint Protection.
Hope that helps!!