Bluetooth Earphones keep disconnecting and reconnecting after macOS Monterey Upgrade

I am facing constant connection drop issues with my Bluetooth earphones which work flawlessly with my Android device.

The details of the devices are as follows:

1. Earphone: BoAT Airdopes 141
2. My Mac: MacBook Air M1 2020 (recently upgraded to macOS Monterey)
3. My Android device: Samsung Galaxy M31 (just for reference)

So, when I connect my earphones to my Samsung phone, it works flawlessly, so there is no issue with the connectivity of the earphones.

In contrast, with my mac, the issue is that after every 30 seconds, the same set of earphones stops playing the audio and randomly starts to disconnect.

I have tried to cut off any interference in the room by turning off my smartwatch, switching the Bluetooth off on my phone and then reconnecting. I have also turned off my mac's Bluetooth and turned it back on. I have also tried to forget the device and then re-pairing it. I also deleted the plist file for the Bluetooth and rebooted the laptop as suggested in some of the forum posts. I have also killed the bluetoothd process from the terminal and then re-connected. But to no avail. Nothing seems to work.

I say this is due to the upgrade because I tried connecting a different pair of earphones (my older ones) which used to work with BigSur and that is also having the same issue.

Any leads would be highly appreciated.