I believe you have encountered a bug. Several similar reports have been noted elsewhere within the Apple Support Communities affecting Mac, iPad and iPhone. The issue, while not widespread, appears to affect a small but significant number of Users.
I am one of the Users experiencing difficulties with AirDrop subsequent to updating to iOS/iPadOS 26.2...
I have one iPad (iPad #1 using AppleID #1) that is unable to AirDrop to one other iPad (iPad #2 using AppleID #2). However iPad #1 can still receive AirDrop from iPad #2 without issue - and similarly can freely AirDrop between iPad #1 and iPhone #1 (using AppleID #1) and iPhone #2 (using AppleID #2). iPad #2 has no such issues with unidirectional AirDrop between these users or associated devices. All devices are using the same WiFi network.
- iPad #1 (AppleID #1) >>> iPad #2 (AppleID #2) ❌
- iPad #1 (AppleID #1) <<< iPad #2 (AppleID #2) ✅
- iPad #1 (AppleID #1) >>> iPhone #1 (AppleID #1) ✅
- iPad #1 (AppleID #1) <<< iPhone #1 (AppleID #1) ✅
You and anyone else that encounters difficulties with AirDrop subsequent to updating to 26.2 would be best advised to submit a Bug Report via Apple's Product Feedback portal:
Feedback - Apple
When submitting your Bug Report, please ensure that you include details of your device model and installed OS version of within the body-text of your report along with details of the problem. Do not rely upon the pick-list alone - as this often does not include the most recent OS versions.
Every Bug Report counts. Unless sufficient reports are submitted (with adequate detail), Apple may not assign resources to investigate and correct the issue.
In addition [i.e., not as a substitute] to submitting a Bug Report, you might also consider seeking assistance directly from Apple Support. You can contact the Support Team using the Support link at top-right or bottom-left of this page; you can initiate and manage your support cases from Apple devices using the excellent Apple Support App. If not already installed, the App can be downloaded from the App Store:
https://apps.apple.com/app/apple-support/id1130498044