Having the same issue here with a MBP 15'' Mid 2017 (Intel SoC) and the LG Ultra Wide 34UW95U-W. I have that screen since 2019 and never have this kind of issues till now.
Resolutions got reduced a lot and the one I use to use (3840x1620) is not there anymore. Also, I made a trial on my wife's MBP 16'' and before the update everything was working right (on Monterey 12.1). Once I updated to the 12.2 the same change happens and resolutions were gone too.
Also tried using BetterDummy to force the 3840x1620 resolution but the screen gets blurry with text and icons.
All this through DisplayPort 1.2 on the screen because with 1.4 the macos get the wrong resolutions (non Ultra Wide ones).
The only solution I have right now is to use the highest possible resolution the mac is giving me: 5120x2160.
I really don't understand apple on this one.
Resolutions got reduced a lot and the one I use to use (3840x1620) is not there anymore. Also, I made a trial on my wife's MBP 16'' and before the update everything was working right (on Monterey 12.1). Once I updated to the 12.2 the same change happens and resolutions were gone too.
Also tried using BetterDummy to force the 3840x1620 resolution but the screen gets blurry with text and icons.
All this through DisplayPort 1.2 on the screen because with 1.4 the macos get the wrong resolutions (non Ultra Wide ones).
The only solution I have right now is to use the highest possible resolution the mac is giving me: 5120x2160.
I really don't understand apple on this one.