I also have the same problem with an iPhone 15 Pro Max on iOS 18.2 Beta 1 and an AirTag
CJGreen
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iOS 18.2 Beta 2 update fixes the problem.
The AirTag communication problem that I had with iOS 18.2 Beta 1 was resolved when I updated to the Beta 2. However, while trying to get it to work with the Beta 1 software, I reset the AirTag and then repaired it with my iPhone 15 Pro Max. That by itself didn't help but a short while later I updated to the Beta 2 version and it began working normally. Maybe if you try reseting the AirTag and use the iOS 18.2 Beta 2 software it will work.