If you are looking to retain data, it is highly recommended that you do not take a massive leap from an old macOS such as Sierra all the way to Monterey but that you make a full backup and upgrade incrementally without skipping macOS versions. There are massive changes to the way things work along the way from Sierra to Monterey. It is unlikely that Apple tested upgrading to Monterey from such an old operating system. Also be sure to check the compatibility of all installed software and remove anything that will break on newer macOS versions. Remove any and all security tools such as Norton / McAfee, etc.
I have witnessed horrific scenarios where a Mac can be bricked. It is far more likely on T2 equipped Intel Macs and especially if using FileVault2 encryption. However, I have had issues upgrading various older macOS versions on pre-T2 equipped Macs as well. Ended up with failures and inability to boot, etc. I would recommend you upgrade to High Sierra first. Then upgrade to Mojave then Catalina and Big Sur then Monterey. I would even go so far as to apply all the patches in between as firmware updates are included. Yes, this takes a lot of time. But it is far more likely to be successful with your data and configurations remaining intact without breaking the operating system.
If you don't care about the data, download Big Sur, via the How to get old versions of macOS link, burn a 16GB+ flash drive installer, then boot from the installer USB (hold option when powering on) and nuke and pave the system from scratch (delete the internal disk completely). Then install and fully patch Big Sur and upgrade to Monterey and fully patch.
How to get old versions of macOS
https://support.apple.com/en-us/HT211683
How to create a bootable installer for macOS
https://support.apple.com/en-gb/HT201372