The issue can be still reproduced on Monterey 12.2. Apple has not respond to my bug report. Apples Motto: Move fast and break things, they got the money, you the bill.

The issue can be still reproduced on macOS Monterey 12.2.1.

Another thread reporting bluetooth core issues: https://developer.apple.com/forums/thread/694146

If possible don't upgrade to MacOS Monterey until Apple fixed bluetooth core. I'll downgrade (re-install) to the previous MacOS.