are there drivers for Canon Pixma MG7120 for Mac OS Monterey

Apple's built-in AirPrint in Monterey supports the MG7120 for print and scan (Apple's Image Capture) but only as a networked (wired/wireless) device. This would require no software from Canon.

Re-add the printer from the Printers & Scanners Preference panel by right-clicking on the printer's entry and choosing Reset print system… That will allow you to re-add the printer using AirPrint, and not Canon's drivers.

Refer this question https://discussions.apple.com/thread/253592257

Further is this user profile accurate MacBook Air 13″, macOS 12.0

The current version as of Jan 26, 2022 is version 12.2

Perform a Time Machine Backup  before attempting