I have upgraded another iMac12,2 with an
i7-2700K, HP WX4150 and BT4.2/802.11ac WiFi.
As
@m0bil mentioned, sleep/wake does not work with High Sierra. Backlight comes up after sleep, but there is no image. (I observed the same behaviour when I tried to upgrade an iMac12,2 with a Xeon E3-1270. But in the case of Xeon that failure to wake from sleep happened with BigSur/Monterey, too. This is of course known...)
However, sleep works with Monterey (via OCLP 0.4.2 built with default/detected settings on the tested machine). The longest sleep cycle was 20 minutes in today's 'quick' tests, but it is quite a bit more promising than High Sierra. (And this is also in line with my previous observations on a different machine upgraded with i7-2700K - sleep/wake works.) So,
@KNz I'm not sure what we did differently. (Could the upgraded GPU/BT/WiFi also play a role?)
Edit: After installing Monterey to internal drive I can confirm that sleep/wake seems to work flawlessly. (iMac woke up without a problem after two overnight sleeps.)
(P.S.: Yes, I still have not-the-latest VBIOS on that WX4150...)