Can I use a Late 2014 iMac as display for M1 Macbook Pro?

I just discovered that I can't upgrade my beloved iMac (Retina 5K, 27-inch, Late 2014) with Monterey. I have an M1 MacBook Pro. Is there a way to use the iMac as the primary display with the MacBook? Most of my work is with FCPX and I need the bigger screen yet the new Cinematic features won't work without Monterey.