Some users experience this issue when jumping from Mojave 10.14 and Catalina 10 15 Directly to Monterey.
Other have had success.
Technically - one should be able to jump but other times a more measures approach is needs.
That being upGrading to Catalina or Big Sur First and then make the final step to Monterey.
Do you have a Rescue Plan In-Place. This comprises having 3 Backups using 2 methods and 1 Off Site incase of Theft, Loss or Natural Disasters. A Time Machine Backup is very useful and can be used to Revert to Previous Working macOS.
For addition purposes - two Tested Bootable Clones each to separate external drives. This is insurance incase the upgrades goes sideways. At least one Tested Clone and / or Time Machine Backup should be Off - Site
Notation - Mojave is the Last version to support 32 bit applications / extensions and Drivers. Catalina, Big Sur & Monterey supports only 64 bit and there is no workaround.
Suggest using Go64 to find 32 bit application before attempting the upGrade. Some or many of the Application already installed may required update or upGrades to 64 Bit Versions.