Is this an Intel or M1 Mac? Have you ever used these drives with this Mac before having the "read only" issue? Some third party devices are not compatible with an M1 Mac. Also, macOS 12.x Monterey is known to have some compatibility issues with certain devices from time to time depending what Apple has done with each minor update.
Also, it seems you posted this within the High Sierra forums, but are dealing with a 2020 laptop. I'm assuming you have an older laptop as well which is where these drives were used? If so, do you have the problem with the older system?
FYI, macOS 12.x Monterey now uses an APFS volume for TM backups which may explain why you cannot write to the drive. Did you have this issue before with an older version of Monterey, or did the issue only begin after the 12.6 update (or even an earlier 12.x update)?
I definitely would use DriveDx to check the health of the external drive as @BDAqua suggested especially if the drive was being used on your older Mac for years before using it with the new one (assuming you are going to erase it for use with the 2020 laptop and don't care about the historical backup). No sense putting important backups on a drive if it may be failing.