You should be seeing syncing of just about anything that is set up for iCloud syncing on both devices. Many of the iCloud features don't require a version of macOS as recent as Monterey 12.7. The only one I see that would require a newer version of macOS is Shared Password Groups.
System requirements for iCloud - Apple Support
I assume that both devices are signed in to iCloud, using the same Apple ID.
Do both of your devices have at least intermittent connectivity to the Internet? They need that to sync with iCloud (and therefore, indirectly, with each other).
Do you have free iCloud space? If you're out of iCloud space, things may stop syncing.
Does each device have free local storage space? If you're out of local storage space on one device or the other, it will be hard for that device to update its local data to reflect changes in iCloud.