This is probably an iMac with a Rotational / Mechanic Drive or a Fusion drive contains a Rotational Drive plus an SSD that is understood by the Operating System as one drive.
This assertion above would show up the excellent suggestion by @Old Toad to post the Etrecheck Report in full.
Should that be a fact and you what to extend the usable life of this machine ?
Invest in a good Enclosure and a good SSD Drive for the enclosure with enough Drive Capacity.
The install Monterey directly to the External Drive and make the External your Startup Drive
Good place to on-line shop would bewww.owc.com and they may have drive and Enclosure that best match your machine.