In Big Sur 11.6.5, and Monterey 12.3.1, the /Library/Fonts folder is owned by root and group wheel with read, write and search privileges for those entities. However, world (members of other groups e.g. staff) only have read privileges on that Font folder. It also has a sticky bit set, so it is kept in the System Cache.
Actually, you can also put fonts into the /Library/Fonts/ folder, but that location only works correctly with OpenType fonts and old non-Unicode 8 bit TrueType (.ttc and .ttf) fonts. Type 1 PostScript and old legacy Mac OS 9 TrueType fonts will fail most of the time.
what type of file is it, how many font styles does it have (bold, italic, etc.)?
have you rebooted?
Hmm. I haven't modified that folder at all, and under 12.3.1, read/write is given for system and admin. Which, since I'm logged into the admin account, explains why the OS didn't ask for a password to move fonts in or out of the folder. everyone is read only.
What font are you trying to install?
The only place you can install a font on macOS Big Sur or Monterey is in your local /Users/username/Library/Fonts folder. This is because the operating system is on a read-only partition and that local font folder is one of three that the operating system searches for fonts.
Very true although Font Book should install fonts there assuming there's nothing wrong with the font.
Why I can't install font???