Monterey doesn't do this out of the box (I don't believe I'm using it wrong- even if there is an unpublished keyboard shortcut to trigger it, I don't have to use such a shortcut in any other WM), and the behavior it does have is severely lacking.
For starters, you have to manually hover over the button hiding the feature to use it, and that button isn't on the edge of a window (worst-case for accessibility, per Fitts' Law). Additionally, its window-arranging features aren't capable of arranging more than 2 windows on the screen (you can't do it by quadrant like you can with other tilers), and it also puts them into full-screen mode so it both hides the menu bar and you can't easily just pull them out of the arrangement like you can with other WMs.
I don't believe there are currently any plans to fix this, and that might be just as well (the term 'Sherlocked' originates from Apple for a very good reason), but the fact that it took them 15 years to come up with a half-assed version of what Windows was doing in 2006 isn't actually that great a look.