Apple releases macOS 12 Monterey to general audience. Release version is 12.0.1 (21A559).
macOS Monterey contains a lot of new features. Some of those are not yet enabled in current release – Universal Control will be available later this year. Some features are available only to Apple Silicon Macs – FaceTime portrait mode, Object Capture and some other changes.
Older Xcode versions
Xcode 12 is not working under macOS 12 Monterey. If your projects are built using Xcode 12, avoid updating to macOS 12 Monterey.
Update projects to Xcode 13 as soon as possible.
Together with macOS 12 Monterey, Apple also released macOS Big Sur 11.6.1 update focusing on security and bug fixes.
Apple: macOS Monterey
Reference: Apple Releases macOS Monterey With AirPlay to Mac, Live Text, Safari Updates, Shortcuts App and More, macOS Monterey: Here are the features exclusive to M1 Macs, 10 Great macOS Monterey Features Worth Upgrading For, Apple Releases macOS Big Sur 11.6.1 With Security Fixes, macOS Monterey: The MacStories Review
Developer:Beware that Xcode 12 is not working on macOS Monterey, plan updates accordingly.
QA engineer:Beware that Xcode 12 is not working on macOS Monterey, plan updates accordingly.
PM/DM:Plan team macOS updates considering that Xcode 12 does not work on macOS 12 Monterey.