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I was able to work this out with the help of John Morris (Checkpoint) and his team. I'm attaching a word document for instructions. I've also shared with TAC, so hopefully they will write up an SK.

When signing into the new Smartconsole (downloaded from Service Management), you will need to change the server (pull down) to the cloud. The token they are looking for is the Service Identifier, which can be copied from Service Management tab. Then just sign in with admin and the new password you created in step 4.

Another note, the portal does not match 1-1 on all areas of the on-prem server. But if you use the newly download SmartConsole you can do the one-to-one manual copy. Unfortunately, there is no export (at least that I've found) of the blocked application list.