Pk>wss>yonko>fleet admiral>revolutionary army chief of staff>leader of the revolutionary army> yonko commanders 1-3~admirals~masked cp0~ genius scientists like vegapunk, judge, and ceasar> vice admirals~ the other yonko commanders~ scabbards~ tobi roppo>buggy
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Mihawk's reason was that he wants to live peacefully and quietly. The Yonko are closest to conquering the world.
He achieved his dream of becoming the world's greatest swordsman, now he just wants to chill and enjoy life until its time for his rematch with zoro.
Being a yonko does not sound relaxing or peaceful at all, you have generations of new pirates forming alliances to try and kill you for your throne while having to maintain a huge crew and lots of territory, it just sounds exhausting. At least as the world's greatest swordsman if he has a challenger for his title it's just 1 person then he can go back to drinking wine and playing with his pet monkeys or whatever it is he does