Quick way to turn on bluetooth tethering from MacBook to iPhone on Big Sur

I've successfully set up bluetooth tethering from my 2020 MacBook Pro to my iPhone 8 (new installation). I'm coming from OSX Mojave where I could tether my iPhone by clicking on the bluetooth icon in the menu bar, and then right clicking on my iPhone and then selecting "connect to network".

On Big Sur there is no right clicking the iPhone entry in under "Devices" bluetooth menu anymore. I can "enable" it by clicking on it, but that does nothing. The blue circle briefly turns blue and then grey again. To turn on tethering I found I have to go one menu deeper into the "Bluetooth preferences..." menu. There I can right click the iPhone and choose "Connect to Network" which finally starts the tether.

Using the new iPad like control menu to access bluetooth has the same issue (and requires even more clicks). Sometimes a notification appears to offer to start the tether, which does work.

Is there a simpler / quicker way to "connect to network" that digging in the menu?

What is clicking on the iPhone device in the bluetooth menu supposed to do?