In macOS Monterey 12.3 Beta 3, which Apple released to developers today, there is a small update to the Universal Controls feature designed to make it easier to access the various settings of the Universal Controls while using the feature.
If you open the Display section of System Preferences after updating to new software, a new “General Controls…” button will appear. The Universal Controls button provides direct access to the three available Universal Controls settings.
Before this beta, the Universal Controls option was under the now-removed “Advanced” tab, just more difficult to access. The General Controls setting has not changed, even though its location has been updated.
The first two settings are enabled by default, allowing Universal Controls to work, while the third setting is optional and can be turned on to allow automatic reconnection to any nearby Mac or iPad you’ve previously connected to.