You haven't given us the specifics of your computer, I have a 2014 2.8ghz i5/8gb Mini with a Fusion Drive. The Fusion drive is actually a 128gb SSD paired with a 1tb hard drive. I split the SSD from the Fusion drive, which is simple and only involves a few terminal commands. It runs Mojave very well.
So my first question is whether you actually have a Fusion drive, or just a hard drive (Apple sold both configurations)? If it's a Fusion Drive, then it's only a matter of software to separate the SSD. Otherwise, it looks like installing a PCie drive is actually quite simple (although I have not tried myself). OWC rates it as "straightforward". See this:
OWC's step-by-step video of how to upgrade the PCIe SSD in the Apple Mac mini (Late 2014).
eshop.macsales.com
The external SSD is also a nice - and even simpler - option. However, performance is not nearly as good. So it's up to you... Here's my internal SSD
I also have four different USB3 external SSD's (in sizes ranging from 500gb to 4tb), and they all clock just about the same.
As for downgrading from Mojave.... why not move to the SSD first and see what you think about performance? Like I said, my 2014 Mini is perfectly happy with Mojave. Caveat: mine is just a media server that runs iTunes 24/7, so it's possible that you'd have different results if you use a bunch of programs simultaneously.