We have the same machine and yes you can but unlike big sur, you will need to apply post install patch to get graphics acceleration and wifi working in monterey which will break the delta updates. you also dont need to upgrade your bt/wifi card but if you can do that, it will be better. So if losing delta update is alright with you, then heres what you should do:
1. update your oclp to latest stable release (get the offline TUI version)
2. update from big sur to monterey natively.
3. re-run oclp (dont change anything on the settings, or you can change the bootpicker option to false only)
4. reboot
5. run oclp again and apply post install patch
6. reboot.
7. enjoy!