Hold on! Before you rush to upgrade, here are the things to do:
MacOS Monterey compatibility: Find out if your device will work with macOS Monterey
Software that works on macOS Big Sur with M1 or Intel Chipset should work with macOS Monterey.
Are all your peripheral devices compatible?
Is all your installed software compatible?
Do you have the installers for that software, if you need to reinstall?
Make sure a full backup of your computer is completed before upgrading
Once you go through the list and decide to upgrade