Why doesn't my iPhone hotspot appear on my Mac?
It never appears on my mac when I need it. And YES, latest iOS, macOS, and all setup for it to work.
[Edited by Moderator]
Anyway please refer to articles below:
How to set up a Personal Hotspot on your iPhone or iPad - Apple Support
Use an iPhone or iPad to connect your Mac to the internet - Apple Support
Make sure all your Devices are logged into the Same Apple ID, Bluetooth and WiFi are switched ON (try to OFF/ON each on both devices), try to reboot both devices. Check your carrier settings for hotspot in Settings > Cellular.
Check it also with iPhone connected via USB cable to your Mac