Yep, exact same problem here - haptic feedback on the trackpad does not work at all, since upgrade to Mac OS Monterey. It did work 2-3 times in the early days of Monterey, but then stopped altogether. I even wiped the hard drive and reinstalled it freshly but still the same problem, so it's almost certainly a bug in Monterey.
Mine is a Macbook Pro 13 2020 Intel Core i5 model, now out of warranty. I'm shocked that Apple would allow this through testing, let alone not fix it extremely quickly, but it's been like it for over a month now.
How ironic that the cheapest laptop I own is the most reliable to use! (I own the above Macbook Pro, and also a HP Spectre X360 14 with Windows 11 that has its own issues although not as bad as the Macbook Pro, and a Acer Chromebook 713 which "just works" - never an issue, a pleasure to use, and for day-to-day use is my go-to machine - plus almost 15 hour battery life!).