I believe this is an issue with Monterey supporting devices that output MJPEG, and/or a UVC driver implementation issue.
I have UVC compliant cameras that have MJPEG and UYVY output support. They are able to output UYVY just fine via USB 2.0, USB 3.0, direct connection, and via USB hub in USB 2.0 or USB 3.0. The MJPEG option does not exist. You cannot even find the device via any app or utility.
Big Sur, worked just fine. Monterey for some reason has broken this, and there's no explanation. Camera manufacturers have just recommended plugging in to USB 3.0 since it usually forces their hardware to output something other than MJPEG.
It would be helpful for an engineer to take a look at this, as there are many cameras (expensive ones, too!) that have suddenly stopped working secondary to this upgrade. It's extremely frustrating for us to downgrade to Big Sur, as that requires having a recent enough time machine backup so that we don't lose all our files.