Hey all, I wanted to share a discovery I just made with TM and Monterey. Keep in mind, I'm running an Intel based iMac from late 2015, so I'm not sure this will work for everyone. Anyway, my TM drive had filled up, and it was because things got backed up I didn't catch soon enough before the backup(s) ran. Anyway, I wanted to see if I could get back space by deleting old backups, so I selected all the backups listed, except the newest two, and right clicked and saw a "Delete Immediately" menu item, so, I selected it and two my surprise it worked, and I have space back now. I'm not sure if this is a bug, or Apple's new intended way of managing TM backups. Nothing seems to have broken, but will have to see what happens when the next backup runs.
Anyway, just wanted to share my findings.